Loading...
2014-031.� � � � � ,� �� , � , �� ORDINANCE NO. 2014-031 AN ORDINANCE OF THE CITY OF DENTON, TEXAS AUTHORIZING THE CITY MANAGER, OR HIS DESIGNEE, TO EXECUTE A CONTRACT OF SALE (HEREIN SO CALLED), AS ATTACHED HERETO AND MADE A PART HEREOF AS EXHIBIT "A", BY AND BETWEEN PAUL-EMILE BAUDOUIN AND BENJAMIN PARKER BAUDOUIN AS OWNER (HEREIN SO CALLED), AND THE CITY OF DENTON, TEXAS, AS BUYER, REGARDING THE SALE AND PURCHASE OF FEE SIMPLE TO TWO TRACTS IDENTIFIED AS A 22.41 ACRE TRACT, MORE OR LESS, AND A 27.93 ACRE TRACT, MORE OR LESS, BOTH SITUATED 1N THE B.B.B. & C.R.R. CO. SURVEY, ABSTRACT NO. 196, LOCATED 1N THE CITY OF DENTON, DENTON COUNTY, TEXAS, AS MORE PARTICULARLY DESCRIBED 1N THE CONTRACT OF SALE, LOCATED GENERALLY IN THE 3700 BLOCK OF COUNTRY CLUB ROAD (THE "PROPERTY INTERESTS"), FOR THE PURCHASE PRICE OF FOUR HUNDRED SEVENTY FIVE THOUSAND DOLLARS AND NO CENTS ($475,000,00), AND OTHER CONSIDERATION, AS PRESCRIBED IN THE CONTRACT OF SALE; AUTHORIZING THE EXPENDITURE OF FUNDS THEREFOR; AND PROVIDING AN EFFECTIVE DATE WHEREAS, after due consideration of the public interest and necessity and the public use and benefit to accrue to the City of Denton, Texas; NOW, THEREFORE, THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS; SECTION 1. The City Manager, or his designee, is hereby authorized (a) to execute for and on behalf of the City (i) the Contract of Sale, by and between the City and Owner, in the form attached hereto and made a part hereof as Exhibit "A", with a purchase price of $475,000.00, plus certain costs, as prescribed in the Contract of Sale; and (ii) any other documents necessary for closing the transaction contemplated by the Contract of Sale; and (b) to make expenditures in accordance with the terms of the Contract of Sale. SECTION 2. If any section, article, paragraph, sentence, phrase, clause or word in this ordinance, or application thereof to any persons or circumstances, is held invalid or unconstitutional by a court of competent jurisdiction, such holding shall not affect the validity of the remaining portions of this ordinance; the City Council declares that it would have ordained such remaining portion despite such invalidity, and such remaining portion shall remain in full force and effect. SECTION 3. This ordinance shall become effective immediately upon its passage and approval. � �'r'��"�1�"L�.�!w,,1�f� "�������(��]�,�:7 11�i� ll�� � ci��� �a� ....���'�.�.�"�:�mm��--� �i�b��. �„,�` � ~���,� � � 1'� � �`� �" �� �r �� �. � ��� �, m �t � .. � � �.�r� ��. � � � �..... 9"�.�R�,:� A BURROUG���S, MAYOR ATTEST: JENNIFER WALTERS, CITY SECRETARY ■ : �f��'���:�VED AS TO LEGAL FORM: ANITA BURGESS, CITY ATTORNEY � � � � BJ • ,._, �t .,��"V"i,�,..., �.. ..,._m.,� r tiw:�r'..��5 .�..,�,�a,_..,� 4 d," , STATE OF TEXAS § COUNTY OF DENTON § CONTRACT OF SALE NOTICE YOU, AS OWNER OF THE PROPERTY {AS DEFINED BELOW}, HAVE THE RTGHT TO: (1) DISCUSS ANY OFFER OR AGREElV�ENT REGARDING THE CITY OI+' DENTON'S ACQUISZTION OF THE PROPERTY VVITH OTHERS; OR (2) KEEP THE OFFER OR AGREEMENT CONFIDENTIAL, UNLESS THE OFFER OR AGREEMENT IS SUBJECT TO CHAPTER 552, GOVERNMENT CODE. f� This Contract of Sale (the "Contract") is made this � day of ���� , 2014, effective as of the date of execution hereof by Buyer, as defined herein (the " ecfiive Date"}, by and between Paul-Emile Baudouin and Benjamin Parker Baudouin (referred to collectively herein as "Seller") and the City of Denton, Texas, a Home Rule Municipal Corporation of Denton Couniy, Texas {referred to herein as "Buyer"}. RECITALS WHEREAS, Seller owns that certain tract of land being more particularly described on Exhihit "A", attached hereto and made a part hereof for all purposes, being located in Denton Cowaty, Texas (the "Land"); and WHEREAS, Seller desires to sell to Bu�er, and Buyer desires to buy from Seller, the Land, together with any and all xights or interests of Seller xn aiad to adjacent streets, alleys and rights of way and together With all and singular the improvements and fixtures thereon and all other rights and appurtenances to the Land (collectively, the "Property"). ARTICLE I SALE OF PROPERTY For the consideration hereinafter set forth, and upon the terms, conditions and provisions herein contained, and subject to the reservations herein, Seller agrees to sell and convey to Buyer, and Buyer agrees to purchase from Seller, the Property. Seller, subject to the limitation of such reservation m.ade herein, shall reserve, for themselves and itself, their heirs, devzsees, successors and assigns, all oil, gas and other minezals in, on and under and that may be produced from the Property. Seller, their heirs, devisees, successoxs an.d assigns shall not have the right to use or access the surface of the Property, in any way, manner or form, in connection with or related to the reserved oil, gas, and other mineraIs and/or related to exploration and/or production of th,e oil, gas ac�d other minerals reserved herei�n, `� �3 including without lirnitation, use or access of the surface of the Property for the location of any well or driil sites, well bores, whether vertical or any deviation from vertical, water wells, pit areas, seismic activities, tanks or tank battezies, pxpelines, roads, electricity or other utility infrastructure, andlor for subjacent or lateral support for any surface facilities or well bores, or ax�y other infxastructure or improvement of any kind or type in connection with or related to the reserved oil, gas and other minerals, and/or xelated to the exploration or production o£ sanae. As used herein, the texm "nrxineraIs" shall include oil, gas and all associated hydrocarbons, and shall exclude (i) all substances that azry reasonable extraction, mining or other exploration an.d/ox production method, operation, process or procedure would consume, deplete or destroy the surface of the Property; and (ii) aIl substances which are at or near the stax�face of the Property. The intent of the parties hereto is that the meaning of the term "rninerals" as utilized herein, shall be in accordatace wzth: that set forth in Reed v. Wylie, 597 S.W.2d 743 (Tex. 1980). As used herein, the term "surface of #he Property" shall include the area from the surface of the earth to a depth of five hundred feet (500') below the suxface of the earth and a11 areas above the surface of the eartla. It is understood that the Property, ar a portion thereof, may be subject ta an existing oil and gas lease and that such oil az�d gas lease, to the extent it is valid and subsisting, shall not be subject to such surface use prohibitions, io the extent provided by law. However, (i) such oil a�ad gas lease shall be considered an Exception, as defined below; and (ii} nothing con.tained herein shall be deemed as recognizing the validity or subsistence of such Iease and/or operate as a revivor thereof. A,RTICLE II PURCHASE PRICE AND EARNEST MONEY 2.01 Purchase Price. The Purchase Price to be paid to Seller for the Pzoperty is the sum of Four Hundred Sevenfiy Five Thousand and No/X00 DoIlars {$475,000.00) (the "Purclaase Pxice"). 2.02 Earnest Money. Buyer shall deposit the sum of Five Thousand and No/100 Dollars ($5,000.00), as Earnest Money (herein so called) with Capitai Title of Texas LLC- Denton 620 West Hickory S#reet, Denton, TX 76201 (the "Title Company"), as escrow agent, �e�vithin fourteen (14} calendax days after the Effective Date hereof. All interest earned thereon shall become part of the Earnest Money and shall be applied oz disposed of in the same manner as the original Earnest Money deposit, as provided in this Contract. If the purchase contemplated hereunder is consuznmated in accordance with the terms and the provisions hereo% the Earnest Money, together with all interest earned thereon, shall be applied to the Purchase Pzzce at Closing. In all other events, the Earnest Money, and the interest accrued thereon, shall be disposed o�by the Title Cozz�par�y as provided in this Conhact. 2.43 Independent Contract Cansideration. Within fourteen (14) calendaz days after the Effective Date, Buyer shall deliver to the Title Corz�pany, payable to and for the benefit of Seller, a check in the axnount of One Hundred and No/100 Dollars ($100.40) (the "Independent Con#ract 2 �� �� Consideration"), which amount the parties hereby acknowledge and agree has been bargained for and agreed to as considexation for Sellez's execution and delivery of the Contraci. The Independent Contract Consideration is in addition to, and independent of any other consideration or payment provided in this Contract, is non-refundable, , and shall be retained by Seller notwithstanding any other provision of this Contract. ARTICLE xII TITL� AND SURVEY 3.01 Title Commitment. (a) Within twenty (20) calendar days a�ter the Effective Date, Seller shall cause to be furnished to Buyer a cunrent Commitment for Title Tnsurance (the "Title Commitment") for the Pi•operty, issued by Title Company. The Title Commitmeni shall set forth the state of title to the Property, including a list of liens, rnortgages, security interests, encumbrances, pledges, assignments, claims, charges, leases {surface, space, mineral, or o#herwise), conditions, restri.ctions, opfiions, severed mineral or royalty interests, conditional sales contracts, rights of f rst refusal, restrictive covenants, exceptions, easements (temporary or permanent), rights-of way, encroachments, or any other outstanding cIairx�s, interests, estates or equities of any nature (each af which are referred to herein as an "Exception"). (b) Along with tk�e Title Commitment, Seller shall also cause to be delivered to Buyer, at � Bu�er's sole cost and expense, true and correct copies of all instruments that create or evidence Exceptions (tk�e "E�ception Docurnents"), including those described in the Title Commitment as exceptions to which the conveyance will be subject azid/or which are required to be released or cured at or prior to Closing. 3.02 Survey. Within sixty (60) calendar days after the Effective Date, Seller shall cause to be prepared at Buyer's expense, a cuzxent on ihe ground suzvey of the Property (the "Survey"). The contents of the Survey shall Ue prepared by a surveyar selected by Buyer and sk�all in.clude the matters prescribed by Buyer, which may include but not be limited to, a depiction of tihe location of all roads, stxeets, easements and rights of way, both on and adjoining the Property, water courses, 100 year flood plain, fences and improvements and structures of any kind and other matters provided in items 1-4, 6a, 7a, 8, 11,13,16, 13, and 19 of Table A of the ALTA Minimum Standard Detail Requizeznents. The Survey shall describe the size oi the Property, in acres, and contain a metes and bounds description fihereof. Seller shall furnish or cause to be furrushed any affidavits, certificates, assurances, an.d/or resolutions as required by the Title Company in order to a�nend fihe suxvey exception as required by Section 3.05, below. The description of the Property as set forth in the Survey, at #he Buyer's election, shall be used to describe the Property in the deed to convey fihe Property to Buyez and shall be the description set forth in the Title Policy. Notwithstanding the Survey of the Property, the Purchase Price for the Property, as prescribed by Sectian 2.01, aUove, shall �ofi be adjusted in the event the Survey shall detez7mine the Property to be either Iaxger or smaller than ihat depicted in Exhibit "A", attached hereto. 3.03 Revie�v of Tit�e Commitment, Sarvey and Exception Docunnents. Buyer shall have a �� �� period of fifteen (15} calendar days {the "Title Review Period") commencing with the day Buyer receives the last of the Title Cornmitment, the Survey, and the Exception Documents, in which ta give written notice to Seller, specifying Buyer's objections to one or more of the items ("Objections"}, if any. Ali items set forth in the Schedule C of.the Title Commitment, and all ofiher items set forth in the Titl� Commitment which are required to be released or otherwise satisfied at or pxior to Closing, shall be deemed to be Objections without any action by Buyer. 3.04 Seller's Obligatior� to Cure; Buyer's Right to Terminate. The Seller shall, within twenty (20) calendar days after Seller is provided notice of Objectians, either satisfy the Objections at Seller's sole cost and expense or proxnptly notify Buyer in writing of the Objections that Seller carm.ot or will not satisfy at Seller's expense. Notwithstanding the foregoing s�ntence, Seller shall, in any event, be obligated to cure those Objections or Exceptions that have been voluntarily placed on or against the Property by Se11er after the Effective Date. If Seller fails or refuses to satisfy any Objections that Selle�- is �not obligated to cure within the allowed twenty (20) calendar day peziod, as may be extended by Buyer, in its sole discretion, then Buyer has the option of either: (a) waiving the unsatisfied 4bjections by, and only by, notice in writing to Seller prior to Closing, in which event those Objections shall become Permitted Exceptions (herein so called), or (b) terminating this Contract by notice in writing prior to Closing and reeeiving baek the Earnest Money, in which latter event Seller and Buyer shall have no further obligations, one to the other, with respect to the subject matter of this Contract. 3.05 Title Pplicy. At Closing, Seller, at Seller's sola cost and expense, shall cause a standard Texas Owner's Policy of Title Insurance ("Tit1e Policy") to be furnished to Buyer. The Title �olzcy shall be issued by the Title Coznparzy, in the amount of the Puxchase Price and insuring that Buyer has indefeasible fee simple title to the Property, subject only to the Penmitted Exceptions. The Title Folicy may contain only the Penmitted Exceptions and shall contain no other exceptions to iitle, with the standard printed or common exceptions axnended or deleted as follows: (a) survey excepiion must be amended if required by Buyer to read "shortages in area" only (although Schedule C of the Title Commitnnent may condition amendment on the presentation of an acceptable survey and payment, to be borne solely by Buyer, of any ree}uired additional premium}; (b) no exception will be pez�itted for "visible and appare�at easennents" or words to that effect {although reference may be made to any speciiic easement or use shown on the Survey, if a Permitted Exception); (c) no excaption will be permitted for "rights of parties in possession", unless atherwise agreed by Buyer; (d} no Iiens will be shown on Schedule B.. � �w 1/ Notwithstanding the enunneration of the stated exceptions, amendments and/or deletions, Buyer may object to any Exception it deems material, in its sole discretion. ARTICLE IV FEASI$ILITY REV�EW PERIOD 4.01 Review Per�iod. Any term or provision of this Contxact notwithstanding, the obligations of Buyer specified in thzs Contract aze wholly conditioned on Buyer's having determined, in Buyer's sole and absalute discretion, during the period commenci�ng with the Effective Date of this Contract and endzng ninety (90} calendar days thereafter (the "Absolute Review Feriod"), based on such appraisals, tests, examinations, studzes, investigations and inspections of the Property the Buyer deems necessary or desirable, including but not limited to studies or inspections to determine the exisfience of any ez�vironmental hazards or conditions, per%rmed at Bu�er's sole cost, that Buyer finds the Properiy suitable for Buyer's purposes. Buyer is granted the right to conduct engineering studies of the Property, and to conduct a physical inspection of the 1'xoperiy, including inspections that invade the suxface and subsurface of the Property. If Buyer determines, in its sole judgment, that the Property is not suitable, for any reason, for Buyex's intended use or purpose, the Buyer naay terminate this Contract by written notice to the Se11er, as soon as reasonably practicable, but in any event prior to the expiration of the Absolute Review Period, in which case the Earnest Money will be returned to Buyer, and neither Buyer nor Seller shall have any further duties or obligations hereunder. In the event Buyer elects to terminate this Contzact pursuant to the terms of this Article IV, Section 4.01, Buyer will provide to Seller, if requested by Seller, copies of (i) ar�y and all non-confidential an�d non-privileged reports and studies obtained by Buyer during the Absolute Revzew Period; and (ii) the Survey. A1�TICLE V REPRESENTATIONS, WARRANTIES, COVENANTS AND AGREEMENTS 5.01 Representations and Warranties of Seller. To induce Buyer to enter into this Contract an.d conswnmate the sale and purchase of the Property in accordance with the temn.s and provisions herewith, Seller represents and warrants to Buyer as ofthe Effective Date and as of the Closing Date, except whexe speci�c reference is made to another date, that: (a) The descriptive infoi7nation concerning #he Property set forth in this Contract is complete, aecurate, true az�d conreet_ {b) There are no adverse or other parties in possession of the Property or any part thereof, and no party has been granted any license, lease or other right related to the use or possession of the Property, or any part thereof, except thase described in the Leases, as defined in Article V, Section 5.02(a). (c} The Seller has good and marketable %e simple titie to the Property, subject only to the Permitted Exceptions. I • (d) The Seller has ihe full rxght, power, and authority to sell and convey the Property as provided in this Contract and to carry out Seller's obligations hexeunder. (e) The Seller has �.ot received notice of, and has no other knowledge or infoxmation of, any pendang or threatened judicial or administrative action, or any action pending or threatened by adjacent landowners or other persons against or affecting the Property. (f} The SelIer has paid all real estate and personal property taxes, assessm�ents, excises, and levies that are presently due, if any, which are against or are related to the Property, or wi.11 be due as of the Closing, and the Property will be subject to no such liens. (g) Seller has not contracted or entered into any agreemer�t with any xeal estate broker, agent, finder, or any other party in connection with this transaction or taken any action which would result in any real estate broker comznissions or finder's fee or other fees payable to any other pazty with respect to the transaetions contemplated by thzs Contract, except a b% real estate commission to Keller Williams Realty, Kathy Connell, Lisiing Agent. (h) All Leases, as defined in Article V, Sectioa� 5.02(a), shall have expired oz- otlaerwise terminated and any and all tenants ox parties occupying the Properry pursuant to the Leases shall have permanently abandoned and vacated the Property, including without limitation, all personal property of any such tenants or parties, on or before the date of Closing. (i) The Seller is not a"foreign person" as de�ned in Section 1�45 of the Internal Revenue Code of 1986, as amended. 5.02 Covenants and Agreemen#s of Seller. Seller covenants and agrees with Buyer as follows: (a) Within ten (10) ealendax days after the Effective Date, Seller, at Sellex's sole cost and expense, shall deliver to Buyer, with respect to the Property, true, correct, and complete copies of the followiing: (i) AlI lease agreements and/or occupancy agreements and/or licenses of any kind ox nature (if oral, SeIler shall provide to Buyer in writing a11 nnaterial te�x�ns thereo fl xelating to the possession of the Property, or any part thereof, including any and all modiiications, supplements, and amendments tYzereto (the "Leases"}. (b) Fxom the Effective Date until the date of Closzng or earlier termination of this Contraci, Seiler shall: (i) Not enter into any written or oral cantract, lease, easement or right of way agreernent, conveyance ox any other agreement o£ any kind with respect to, or a£%cting, the Property that will not be fitlly performed on or before the Closing or would be binding on Buyer or the Pxoperty after the date oi Closing. �� . � (ii) Advise the Bu�er promptly of any litigation, arbitration, or administrative hearing, or claims relafed thereto, concernzn.g or affecting the Property. (iii) Not fake, or omit to take, az�y action that wauld result in a violation of the zepresentations, warranties, covenants, and agreemez�ts of Seller. (iv} Not sel�, assign, lease or convey any riglat, title or interest whatsoever in or to the Property, or create, grant ox permit to be attached or perfected, any lien, enctunbrance, or charge thereon. (c) Seller shall indemnify an�d hold Buyer harmless, to the extent permitted by law, from all loss, liability, and expense, including, without liznitation, reasozaable attorn.eys' fees, arising or incurred as a result of any liens or claims resulting from labor or materials furnished to the Pxoperty under any written ox oral contracts ariszr�g or entered into priox to Closing. (d) On or be�ore Closing, Seller shaIl remove (i) any waste material oz deb�is that are located upon, or may accumulate or otlaexwise be placed on the Property (the "Waste Material"), from the Property and dispose of sam.e in accordance with al� applicable statutes, regulations, rules, orders and ordinances; and (ii) all personal property from the Property. It is expressly stipulated that (i} the Waste Matezial shall be deemed at all times tlae property of Seller; and (ii) Buyer may retain, desiroy, or dispose of any property, of any kind or type, �eft or rernaining on the Prope�rty at Closin.g (the "Abandoned Property"), without liability of any kind to Buyer and withoui payment of consideration of any kind to Seller. In the event Buyer shall elect to store said Abandoned Property, Buyer may store such Abandoned Property in the name, and at the expense, of Buyer. (e) On ox befoie Closing, Seller shall remove the house structwre, inclusive of the foundation, currenily located upon the Property, from the Property and dispose of same in accordance with all applicable sfiatutes, regulations, rules, orders, and ordinances. (fl Seller shall provide necessaxy authorization required for any City initiated permitting, planning ox zoning applications during the contraci period, involving the subject property txacts. 5.02.A. Warranty of Buyer; Properiy Condition. Buyex represer�ts and warracxfis to Se�ler that ii has made, or will make prior to Closing, an independent inspectian and evaluation of the Property and acknowledges that Seller has made no statements or xepresentations concerning the present or future value of the Property, or the condition, including the environmental condition, of the Property. Except as otherwise specifically represented and warranted by Seller in this Contract, SELLER MAKES NO REPRESENTATIONS OR WARRANTIES, EXPRESSED, STATUTORY, OR IMPLIED, AS TO THE VALUE, QUALITY, QUANTITY, PHYSICAL AND ENVIRONMENTAL CONDITION 4F THE PROPERTY AND/OR MAT�RIALS 7 �� � CONTAINED OR LOCATED IN, ON �R UNDER THE PROPERTY, THE NATUR� OF THE PAST OR HIST4RIC USE OF THE PROPERTY, AND/OR MERCHANTABILITY OR FITNESS FOR PURPOSE OF ANY �F THE �'ROPERTY. Buyer fiu�her acknowiedges that it has relied solely upon its independent evaluafiion and examination of the Property, and public records relating to the Property and the independent evaluations and studies based thereon. Seller znakes no warranty or representatio�n as to the accuracy, cozxxpleteness or usefulness of any information fumished to Buyer, if any, whether furnished by Seller ar any third party. Seller assumes no liability for the accuracy, completeness or usefulness of any material furnished by Seller, if any, and/or any other person ar party. Reliance on any nnaterial so furnished is expressly disclairned by Buyer, and shall not give rise to any cause, ciaim or action against Seller. 5.03 Sunvival Beyond Ciosing. Notwithstanding anytk�ing to the contrary contained in this Contract, the representahons, warranties, covenants and agreements of Seller and Buyer contained in this Contract shall survive the Closing, and shall not, in any circumstance, be xrxerged with the Special War�ranty Deed, as described in Article VII, Section 7.02(a). 5.0� Exception to Closure. Notwithstanding anything to the cor�traxy in this Contract, Buyer may terminaie this Contract by rwritten notice to Seller in the event the City fails to close on the property identified in the City's Contract of Sale on the "Altemus" property, immediately adjacent to the property described herein in Exhibit "A," insomuch as the Buyer's public purpose is only met with the acquisition of both tracts. In such event, the Buyer shall be entitled to a reimbursement oi its earnest xnoney. ARTICLE VI C4NDITIONS PRECED�NT TO PERFORMANCE 6.O1. Per�ormance of Seller's Obligatians. Buyer is not obligated to perform under this Contract unless, within the designated time periods, all af the following shall have occuned: {a) Seller has performed, fiirnished, or caused to be fizrnished to Buyer aIl ifiems required to be so perfo�rn.ed or fitmished under other sections of this Contract; and (b) Seller cures or Buyer waives in writing, within the time periods specif ed in Article III, all of Buyer's objections made in accordance with Artiele III. G.02 Breach of Seller's Representations, Warranties, Covenants and Agreements. Buyer is not obligated to perform under this Contract unless all representations, �varranties, covenants and agreements of Seller confiained in this Contract are true and correci or have been per%zxned, as applicable, as of the Closing Date, except �vhere specific reference is made to another date. 6.03 Adverse Chan�ge. Buyer is not obligated to perform under this Contract, if on the date of Closing, any portion of the Property has been condemned by an entity other than Buyer, or is the subject of condeznnation, enninent domain, or other material proceeding initiated by an entity other than Buyer, or the Property, or any part thereof, has been matezially or adversely impaired xn any mazaz�.er. �p � 6.04 Review Period. Buyer is not obligated to perform under this Contract if Buyer delivers z�otice to Seller pursuant to Ariicle IV, Section 4.01 that Buyer has determined that the Property is unsuitable io or for Buyer's purposes. b.05 Suyer's Right to Waive Conditions Precedent. Notwithstarxding anything contained in this CantracY to the contrary, Buyer may, at Buyer's option, elect to waive any of the conditions precedent to the performance of Buyer's obligations under this Contract by giving ta the Seller, at any time priox to Closing, a written waiver specifying the waived condition precedent. 6.06 Buyer's Termination if Conditions Precedent Nat Satisfied or Waived. If any of the condztions pxecedent to the performance of Buyer's obligations under this Contract have not been satisfied by Seller or waived by the Buyer, the Buyer nnay, by giving written notice to Seller, terminate fihis Contract. On Buyer's termination, the Earnest Money shall be innnnediately returned to Buyer by the Title Carrxpany. The Seller shall, on written request from Buyer, promptly issue the instructions necessary to instruct the Title Coxnpany to xeturn to Buy�r the Earnest Money and, thereafter, except as otherwise provided in this Contract, Buyex az�,d Seller shall have no further obligations under this Contract, one to the othex. ARTICLE VII CLOSING 7.01 Daie and Place of Closing. The Closing (herein sa called) shall take place in the offices of the Title Company and shall be accomplished thraugh an escrow to be established with the Title Coxnpany, as escrowee. The Closing Date (herein soznetimes called}, shall be one hundred eighty (180) calendar days after the Effective Date, unless otherwise mutually agreed upon by Buyer an.d Seller. 7.02 Ztems to be Delivered at the Closing. (a) Seller. At the Closing, Seller shall deliver or cause to be delivexed #o Buyer or the Title Com.pany, at the expense of the party designated herein, the following items: (i) The Title Policy, in the form specified in Article III, Seetion 3.05; (ii) The Special Warranty Deed, substantially in the form as attached hereto as Exhibit "B", subj ect only to the Permitted Exceptions, if any, duly executed by Seller and acki�owledged; (iii) Other items reasonably requested by the Title Company as adzninistrative requirezn.ents for consunnnaating the Closing. (b) Buver• At the Closing, Buyer shall deliver to Seller or the Title Company, the £ollowing items: (i) The sum required by Article YI, Section 2.O1, less the Earnest Money in the form • �. of a cheok or cashier's check or other immediately available funds; (ii) Other itezx�s reasonably requested by the Title Company as administrative requirements for consuznmating the Ciosing. 7.03 Adjustments at Closing. Notwithstanding anything to the contrary contained in this Contract and without lixniting the general application of the provisions of Section 5.03, above, ihe provisions of this Article VII, Section 7.03 shall survive the Closing. The following item shall be adjusted or prorated between Seller and Buyer with respect to the Property: (a) Ad valarem taxes relating to the Property for the calendar year in which the Closing shall accur shall be prorated between Seller and Buyer as of the Closing Date. If the actual amount of taxes far the calendar year in whieh the Closing shall occur is not known as of fihe Closing Date, the proraiion at Closing shall be based on the amount of taxes due and payable with respect to the Property for the preceding calendar year. As soon as the amount of taxes lev�ed against the Property for the calendar year in which Closing shall occwr is lcnown, Seiler and Buyer shall readjust in cash the amowo.t of taxes to be paid by each party with the result that Seller shall pay for those taxes attributable to the period of time prior to the Closing Date. If the conveyance contemplated by this Agreement or the use of the Property by the Buyer after the Closing results in the assessment of additional taxes, penalties or in.tezest {the "Rollback Assessments") for periods prior to Closing, Seller shall not be responsible for the Rollback Assessments. If Rollback Assessz�nenis are or become due as a xesult of any activity, use, non-use or any other matter occurring prior to Ciosing, or from the denial of a special use valuation of the Property, Seller shall be responsible for the Rollback Assessm.ents. Without limiting ihe general nature of Seciion 5.03 herein, the obligations contained herein shall suroive Closing and shall not be zxzerged with the Special Warranty Deed. 7.04 Possession at Closing. Possession of the Property shall be delivered to Buyer at Closing. 7.05 Costs of Closing. Each party is responsible for paying the legal fees of its counsel, in negotiating, preparing, and closing the transaction eonfiezx�plated by #his Corztxact. Sellex is responsible for paying fees, costs and expenses identified herein as being the responsibility of Seller. Buyer is responsible for paying all other fees, costs and expenses related to Closing. ARTICLE VIII DEFAULTS AND REIVIEDXES 8.01 Sealer's Defaults and Buyer's Remedies. (a) Sellei•'s Defaults. Seller is in default under this ConUract on the occuzrence of any one or more of the following events: (i) Any of Seller's way.-ran.ties or representations contained in this Contract are untrue on the Closing Date; or lo �� � (ii} Seller fails ta meet, comply vvith or perform any covenant, agreement, cond'ztion precedent ar obligation on Seller's part required within the time linaits and in the manner required in this Contract; or (iii) Seller fails to deliver at Closing, the items specified in Artiele VII, Section 7.42(a) of this Contract for any reason other ihan a default by Bu�er or termination of this Coz�tract by Buyer purstaant to the terms hereof priox to Closing. {b) Buyer's Remedies. If Seller is in default under this Contract, Buyer as Buyer's remedies for the default, may, at Buyer's sole option, do any of the following: (i) Terminate this Contract by written notice delivered to Seller in which event the Buyer shall be entitled to a return of the Earnest Money, and Sell�r shall, prornptly on w�ritten request from Buyex, execute and deliver any docunaents necessary to cause the Title Comparry to return to Buyer the Earnest Money; (ii} Enforce specifie performance of thzs Contract against Seller, requiring Seller to convey the Property to Buyer subject to no liens, encunnbxances, exceptions, and conditions other than ihose shown on the Title Commitment, whereupon Buyer shall waive title objections, if an.y, and accept such title without reduction in Purchase Price on account of tiile defects and shall be entitled to assert any rights for damages based on Seller's representations, warranties and obligations that are not waived by Buyec by its acceptance of Seller's title; and (iii) Seek other recourse or relief as may be available to Buyer at or by 1aw, equity, contract or otherwise. 8.02 Buyer's Default and Seller's Remedies. (a) Bayex's Default. Buyer is in default under this Contract zf Buyer fails to deliver at Closing, the items speci�ed in Article VII, Sectian 7.02(b) of this Confiract fox any reason other than a default by Seller wndez this Contract or termination of this Coniract by Buyer pursuant to the tez-ms hereof prior to Closing. (b) Seller's Rem.edy. If Buyer is in deiault under this Contract, Sellex, as Seller's sole and exclusive reznedy for the default, may, at Seller's sole option, do either one of the following: (i) Terminate this Contract by wriiten notice delxvered to Buyer in which event the Seller shall be entitled to a return of the Earnest Money, ar�d Buyer shall, prom.ptly on written request from Seller, execute and deliver any dacuments necessary to cause the Titie Company fio retuz�n to Seller the Earnest Money; or (ii) Enforce specific pexformance of fhis Contract against Buyer. 11 � Q � ARTICLE IX MISCELLANEOUS 9.O1. Notice. All notices, deznands, requests, and other communications required hereunder shall be in wr.�iting, delivered, unless expressly provided otherwise in this Contract, by telephonic �acsiznile, by hand delivery or by United States Mail, and shall be deemed to he delivered and received, upon the earlier to occur of (a) the date provided iiprovided by telephonic facsimile or hand de�ivexy, and (b} the date of the deposit of, in a reguiarly maintained receptacle for the United States Mail, registered or certified, return receipt requested, postage prepaid, addressed as follows: SELLER: Paul-Emile Baudouin and Benjamin 1'arker Baudouin ���"" M ,+�„ - .,+�r_utiA ?�lZ+� � �.��+�_ �. .�.ww���.���,�.�,.,��'a'"� �-'� Copies to: For Seller: �� . �i .. I � i►- � � i ,: � . � i Telecopy: BUYER: Czty of Denton Paul Williamson Real Estate and Capitai Support 901-A Texas Street Denton, Texas 76209 Telecopy: (940) 349-8951 For Buver: Anita Burgess, City Attorney City Attorney's Office 215 E. N�cKiziney Denton, Texas 76201 Telecopy: {940) 382-7923 9.02 Governing Law and Venue. This Contract is being executed and delivered and is i.ntended to be performed in the State of Texas, the laws of Texas governing the validity, construction, enforcement and intezpzetation of this Contract. THIS CONTRACT IS PERFORMABLE IN, AND THE EXCLUSIVE VENUE FOR ANY ACTION BROUGHT WITH RESPECT HERETO, SHALL LIE IN DENTON COUNTY, TEXAS. 9.03 Entirety and Amendments. This Contract embodies the entire agreement between the parties and supersedes all prior agreements and understandings, i£ any, zelated to the Property, and may be amended or supplezxxented only in writing executed by the party against whozn enforceznent is sought. 9.04 Part'res Bound. This Contract is Uinding upon and inures to the benefit of Seller azzd Buyer, arad their respective devisees, heirs, successors and assigns. If requested by Buyer, Seller agrees to execute, acknowledge and record a memorandum of this Contract in the Real Property Records of Denton County, Texas, imparting notice of this Contract to the public. 9.OS Risic o� Loss. If any damage to the Pxoperty shall occur prior to Closing, or if any 12 � �� condemnation or any eminent domain proceedings are thxeatened or iz�itiated b� an entity or party other than Buyer that might result in the taking of any portion of the Property, Buyer may, at Buyer's option, do any of the following: (a) Terminate this Contract and withdraw from this transaction without cost, obligation or liability, in which case the Earn.est Money shall be immediately returned to Buyer; or (b) Consummate this Contract, in which case Buyer, with respect to the Property, shall be entitled to receive (i) in the case of damage, all insurance proceeds, if any; and (ii} in the case of eminent domain, all proceeds paid for the Property related to the eminent doznain proceedings. Buyer shall have ten (10) calendar days after receipt of written notifzcation from Seller on the final settlement af all condemnation proceedings or insurance claizx�s zelated to damage to the Properiy, in which to make Buyer's election. In the event Buyer elects to close prior to such final settlement, then the Closing shall take place as provided in Article VIY, above, and there shall be assigned by Seller to Buyer at Closing, in £ozm and substance satisfactory to Buyex, all interests of Seller in and to any and all insurance proceeds or condemnation awards which may be payable to Seller on account of such event. In the event Buyer elects to close upon this Contxaet after final settlement, as descrihed above, Closing shall be held five (5) business days after such f nal settlement. 9.06 Further Assurances. Zn additioz� to the acts and deeds recited in this Contract and contemplated to he performed, executed and/or delivered by Seller and Buyer, Seller ar�d Buyer agree to perform, execute and/ox deliver, or cause fio be performed, executed and/or delivered at the Closing or after the Closing, any further deeds, acts, and assurances as axe xeasonably necessary to consum.naate the transactions contemplated hereby. Notwithstanding anything to tk�e contrary contained in this Contract an.d without limiting fihe general application of the provisions of Seciion 5.03, above, the provisians of this Ariicle IX, Section 9.06 shall survive Closing. 9.07 Time is of the Essence. It is expressly agreed between Buyer and Seller that time is of fihe essence with respect to this Contract. 9.08 Exhibits. The Exhibits which are referenced in, and attached to this Contract, are incorporated in and made a part of, this Contxact fox all purposes. 9.09 Delegation of Authori[y. Authority to take any actions that are to be, or may be, taken by Buyer under this Contract, including without limitation, adjustment of the Closing Date, are hereby delegated by Buyer, pursuant to action b� the Czty Council of Denton, 'I'exas, to P.S. Asora, Wastewater Engineer of Buyer, or his designee. 9.14 Contract Execntion. This Contract o� Sale may be executed in any number of countezparts, all oi which taken together shall constitute one and the same agreement, and any of the parties hereto may execute this Agreement by signing any such counterpart. ]3 �� � 9.11 Business Days. Tf fihe Closing Date or the day of perfozmance xequired or pertnitted under this Contract falls on a Saturday, Sunday or Denton County holiday, then the Closing Date or the date of such performance, as the case may be, shall be the next following regular business day. Executed by Seller on the 't��t�- �_ ........�... day of 4���,.�-�.�..� 2014. BUYER: �� .��w��m �� �� ��� �.� By: � � . � ��,� .�� ���r]; (:;. CAMFBELL �I"��"� MANAGER �� Executed by Buiyer on the �� day of � �..�_��...2014. ATTEST: JENNIFER WALTERS, CZTY SECRETARY BY: ......... � .�� . APPROVED AS TO LEGAL, FORM: ANITA BURGESS, CITY ATTORNEY °,.,�, � � '� , �; . � BY:.�� rc.d�. d � � ,� r ��..�.. .�_._..._ __���.� ::. I4 12�CEIPT OF AGREEMENT BY TITLE COMPANY By its execution below, Title Company acknowledges receipt of an executed copy af this Contract. Title Coxnpany agrees to comply with, and be bound by, the terms and provisions of this Contract to perform its duties pursuant to the provisions of this Contract and comply with Section 6045(e) of the Internal Revenue Code of 1986, as aznended from time to time, and as further set forth in any regulations or forms proxnulgated thereunder. TITLE COMPANY: Capital Tit�e of Texas LLC Denton, T��� ° ���1 �� By' � . �� . � ..m_.._.��� Prinfied Name: ._..�,..� S�?.2�.+�._�....l...?...�_.�..�.� Title: _ �..� c�..�.�: � ��,���- Contract receipt date: �u�{�r}!� � , 2014 15 EXHIBIT "A" to Contract of Sale Legal Description METES 8� BOUNDS DESCRIPTION TRACT I A 22.41 ACRE TRACT OF LAND, SITUATED IN THE B.B.B. & C. R.R. CO. SURVEY, ABSTRACT NUMBER 196, DENTON COUNTY, TBXAS, AND BBING A PORTION OF THAT TRACT CONVEYED BY DBED FROM B.F. DANIEL AND DORIS RUTH T� R.N. MORRIS AND RECORDCD IN VOLUME 37d, PAGE ] 8, D�CD RECORDS OF DENTON COUNTY, TEXAS, BE1NG THE SAME TRACT OF �,AND AS CONVEYED FROM SIDNBY SIMMS TO PAUL- EMILE BAUDOUIN AND BENJAMIN PARKER BAUDOUIN IN DOCUMENT NUMBER 2011- 35969, OFFTCIAL PUBLIC RECORDS OF DENTON COUNTY, TEXAS, SAID TRACT BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING at a found I/2" iron rod in the westerly R.O.W. line of Farm to Market Road No. 1830 (A/K/A, F.M. 1830, Country Club Road (an 80' Public R.O.W.) for the southeast corner of the herein described tract, the northeast corner of a 12.43 acre tract this day surveyed (called a 12.46 acre tract in conveyance to Connie M. Altemus as recocded in Vol. 901, Pg. 774, Deed Recards of Denton County, Texas); THENCE along and with the northerly boundary line of said Alteznus Tract, North 88°21'S8" West, a distance of 920.52 feet (called North 88°26'S0" West, a distance of 918.60 feet} to a found 1/2" icon rod for the southwest corner of the herein described tract, the northwest corner of said Attemus Tract, a point in the easterly R.O.W. line of a Variable Width Railroad R.O.W. conveyed to G.C. & S.F. Rail Road, as recorded in Vol. 13, Pg. 388, Givil Minutes of Denton County, Texas; THENCE along and with said R.O.W., generally along a fence, North 33°56'34" West, a distance of 988.17 feet (called North 34°02'40" West, a distance of 991.00 feet) fio a set 1/2" iron rod for the no�thwest corner of the herein described tract, the tnost southerly southwest corner of Lot 10, Block B, Bent Creek Estates Phase I, a subdivision of Denton County, Texas, as recorded in Vol. 0, Pg. 85, Plat Records of Denton County, Texas; THENCE along and with the southerly boundary line of said Bent Creek Esiates, generally along a fence, South 88°56'2Q" East, at a distance of 972.71 feet passing a found 1/2" iron rod marking the common corner of Lot 13 and Lot 14, Block A, said Bent Creek Estates, a total distance of 1481.14 feet (called South 88°56'20" �ast, a distance of 1479.60 feet) to a set 1/2" iron rod in the westerly R.O.W. line of said F.M. 1830 for the northeast corner of the herein described tract, the southeast corner of said Bent Creek Estates Subdivision; 16 • �� THENCE along and with said R.O.W., generally along a fence, South 00°3'i'41" West, distance of 818.65 feet (called South 00°28'SO" West, a distance of 819.Q0 feet) to the POINT Or SEGINNING and containing 22.41 acres, more or less. 17 • I METES 8c BOUNDS DESCRIPTION TRACT TI A 27.93 ACRE (CALLED 27.92 ACRE) TRACT OF LAND, S1TUA'1'�D IN THE B.B.B. & C. R.R. CO. SURVEY, ABSTRACT NUMBER 196, DENTON COUNTY, TEXAS, AND BEING THE SAME TRACT OF LAND AS CONVEYED FROM SIDNEY SIMMS TO PAUL-EMILE BAUDOUIN AND BENJAMIN PARKER BAUDOUIN IN DOCUMENT NUMBER 20I]- 35970, BEING A PORTION OF THAT CERTAIN TRACT OR PARCEC, OF LAND CONVEYBD PROM B.P. DANIEL AND DORIS RUTH TO R.N. MORRIS RECORDED IN VOLUME 376, PAGE 18, DEED RECORDS OF DENTON COUNTY, TEXAS, SAID TRACT BEING MORE PARTICULARLY DBSCRIBED AS FOLLOWS: BEGINNING at a set 1/2" iron rod in the westerly R.�.W. line of a Variable Width Railroad R.4.W. conveyed to G.C. & S.F. Rail Road in Vol. 13, Pg. 388, Civil Minutes of Denton County, Texas for the northeast coi�ner of the herein described tract, the southeast corner of a called 2I.472 acre tract conveyed to the City of Denton In Doc. No. 97-055783, Official Public Records of Denton County, Texas, said rod being located North 88°56'20" West, a distance of 1159.41 �'eet from a found 1/2" iron rod marking the common south corner of Lot 13 and Lot 14, Block A, Bent Creek Estates Phase I, a subdivision of Denton County, Texas recorded in Vol. 0, Pg. 85, Plat Records of Denton County, Texas; THENCE along and with said R.O.W., generally along a fence, the following courses and distances: South 33°55'28" East, a distance of 341.00 feet (called South 34°00'20" East, a distance of 341.00 feet) to a set 112" iron rod for an angle point; South 41°02'S8" East, a distance oi 201.G0 feet (called South Q�I°07'S0" East, a distance of 201.60 feet) to a set 1/2" iron rod for an angte point; South 33°55'28" East, a distance of 465.90 feet (called South 34°00'20" East, a distance of 465.90 feet) to a set 1/2" iron rod for the southeast corner of the herein described tract, the northeast corner of a 38.01 acre tract this day surveyed (called 37.87 acre t�•act, A/K/A Tract 40) as conveyed to Connie M. Altemus in Vol. 901, Pg. 777, Deed Records of Denton County, Texas, said rod being located No�th 88°25'06" West, a distance of 155.86 feet from a found 1/2" iron rod in the easterly R.O.W. line of said Railroad R.O.W. marking the southwest corner af a 22.41 acre tract this day surveyed; THENCE along and wifih the northerly boundary line of said Altemus Tract, North 88°21'S8" West, a distance of 1533.89 feet (called North 88°26'50" West, a distance oi i533.90 feet} to a point of reference in a creek for the southwest corner of the herein described tract, said rod being located in the common boundary line of the said B.B.B. & C.R:R. Co. Survey, Absh•act No. 196 and the W. Roark Survey, Abstract No. 1087, a point in the eastecly boundary line oi the Burch Family Farm, Ltd. First Tract, a called 222.275 18 1� �� acre tract as recorded in Doc. No. 2007-110043, Of�cial Public Records of Denton County, Texas; T'HENCE along and with tlie easterly boundary line of said Burch Family Farm Tract, the said common Sur�ey boundary, North 00°34'30" East, a distance of 67.50 feet to a point of reference in a creek for an angle point; THENCE continuing along and with the easterly boundary line of said Burch Family Farnn Tract, leaving the said common Survey boundary, Noi�th 50°54'00" West, a distance of 282.20 feet to a point of reference in a creek for an angle point; THENCE continuing aIong and with the easterly boundary line of said Burch Family Farm Tract, North 26°12'20" West, a distance of 171.70 feet to a poinfi of reference in a creek for an angle point; THENCE continuing along and with the easterly boundary line of said Burch Family Farm Tract, North 30°10'40" West, a distance of 243.00 feet to a point oireference in a creek %r an angle point; THENCE continuing along and with ihe easterly baundary line of said Burch Family Farm Tract, North 17°54'00" West, a distance of 206.41 feet (called North 17°54'00" West, a distance of 20d.00 feet) to a point of reference for the northwest corner of the herein described tract, the southwest corner of said City of Denton Tract; THENCE along and wiih the southerly boundary line of said City of Denton Tract, generally along a fence, South 88°52'19" East, at a distance of 52.92 feet passing a found I12" iron rod in the high bank of said creek, a total distance of 1429.43 feet (called South 88°56'20" East, a distance of I430.56 feet) to the POINT OF BEGTNI�IING and containing 27_93 acres, more or Iess. 19 e� �� NOTICE OF CUNFIDENTIALITY RLGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE UR STRIKE ANY UR ALL OF THE F4LLOWING INFORMATION FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN REAL PRUPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LTCENSE NUMBER. SPECIAL WARRANTY DEED STATE OF TEXAS § COUNTY OF DENTON § KNOW ,ALL MEN BY THESE PRESENTS That Paul-Emile Baudoui� and Benjamin Parker Baudouin (herein cotlectively called "Grantor"), far and in consideraiion of tha sum of TEN AND N4/100 DOLLARS ($10.00), and other good and valuable coa�sideration to Gratttor in hand paid by the City of Denton, Texas, a Te:�as Hame Rule ML�nicipal Corporation {herein called "Grantee"), 215 E, McKinney, Denton, Texas 76201, the recerpt and suf�ciency of which are hereby acknowledged and corafessed, has GRANTED, SOLD and C4NVEYED, and by these presents does GRA.NT, SELL and CONVEY, unto Grantee alI the real properky in Denton County, Texas being particularty described on Exhibit "A", attached hereto and made a part hereof for alI purposes, and beit�g located in Denion County, Texas, together with any and all rights or interests of Grantor in and to adjacent streets, alleys and rights nf way and together with all and singular the improvements and fixtures thereon and all other rights and appurtenances thereto (collectively, the "Property"}. Grantor, subject to the limitation of stach reservation made herein, reserve, ;Fnr theraselves, their devisees, heirs, successors and assigns, all oil, gas and other minerals in, on and under ar�d that may be produced from the Property. Grantor, their devisees, heirs, successors and assigns shall not have the right to use or access the surface oi the Property, in any way, trkanner or form, in connectinn with or refated to the reserved oil, gas, and other tninerals and/or related to exploration and/�r praduction of the Oil, gas and other minerals reserved herein, incfuding, without limitation, use or access of the suriace af the Prc�perty for the location of any well o�• drill sites, weil bores, whether vertica! ar any deviation frot�n vertical, water wells, pit areas, seismic activities, tanks or tank batteries, pipelines, roads, electricity or other utiiity infrastructure, andJor for subjacent or lateral support for any surface facilities or well hores, or any other infrastructute or improvement of any kind or type in connection with or related to the ceserved oil, gas and other minerals, and/or related to the exploration or production of same. As used herein, the terms "rninerals" shall include oil, gas and alI associates hydrocarbvns, and shall exclude (1) all substances that any reasonable extraction, mrning ar other explaration and/or production method, operations, process or procedure would consume, deplete or destroy the surface of the Property; and (ii} alI substances which are at or near the surface of the 1'roperty. Nothing herezn shall be canstrued to prohibiti the praduction of the reserved oil, gas and other minerals and/or the pooling of the reserved mineral estate with other lands, so long as all surface opa�•ations are located entirely on lands other than Property. As �sed herein, the term "surface of the Proper�y" sh�ll include the area from the surface of the eatth to a depth of five hundred feet (500'} below the surface of the ea�th and all areas above the surface of the earth. Exceptions to conveyance and warranty: A. Easement cz•eated in instrunnent recordec� in Volume 2$9, Page 171, Real Property Records, Denton County, Texas, and as shawn per survey by Todd B. Turner, R.P.L.S. No. 4859, dated April 18, 201�. B. Oil, Gas at�d Mineral Lease recorded in Volltme 378, Page 223, Real Property Records, Denton County, Texas. C. OiI, Gas and Mineral Lease executed by Sidney Baudouin to NationsGas Partners, dated July 6, 2001, recorded in Volurne 49Q0, Page 3Q96, Real Property Records, Dentan County, Texas. U. Mineral Deed executed by Sidney Baudouin, Individually and as Co-ExecuCor of the Estate of Bobbie M. Simms, deceased, and Paul F. Simms, as Co-Executor of the Estate of Bobbie M. Simms, deceased to Cannie M. Alternus, dated July 6, 2001, filed Septernber 7, 2001, recorded in Volume �i9I7, Page 3893, Real Property Records, Dentan County, Texas. E. Terms and provisions of Right-of-Way Agreement from Sidney Baudouin to Crosstex CCNG Transmission Ltd. datecl January 18, 2003, �led April 8, 2003, recorded in Volume 5307, Page 4484, Real Aroperty Records, Denton County, Texas, and as shown per survey by Todd B. Turner, R.P.L.S. No. 4859, dated April 1 S, 2014. F. Terms and provisions of Right-of-Way Agreement from Sidney Baudouin to Crosstex CCNG Transmission Ltd. dateci January 18, 2003, filed April 8, 2003, recarded in Volume 5307, Page 4487, Real 1'roperty Recards, Dentoa County, Texas, and as shown per survey by Todd B. Tur�rier, R.P.L.S. No. 485R, dated April 18, 201A�. G. Oil, Gas and Mineral Lease executed by 1'aul-Emile Baudauin to Eagleridge Enexgy, LLC, dated April 11, 2012, filed May 1, 2012, recorded in CC#2012-45176, Real Property Records, Denton County, Texas. H. Easement created in instrurnent to Southwestern Gas Pipeline, Inc., recorded in Volume 5b8, Page 308, Reai Property Recards, Denton County, Texas, and as shown per survey by Todd B. Turner, R.P.L.S. No. 4859, dated April 1 S, 2014. Grantor hereby assi�ns to Grantee, without recaurse or representation, any and all claims and causes of acfiion that Grantor may have for or related to any defects in, or injury ta, the Property. TO HAVE AND TO HOLD the Property, togetlier with al[ and singular the rights and appt�rtenances thereto in anywise belonging unto Grantee and Grantee's successors and assigns forever; and Grantor does hereby bind Grantor and Grantor's successors and assigns to WARRANT AND FOREVER DEF'END all and singular the Property unto Grantee and Grantee's successars and assigns, against every person whomsoever lawfully claiming or to claim the sanne or any part thereof when the claim is by, through, or under Grantor but not otherwise. � EXECUTED the �.� day of �� �°��w_ �w � 2014. � _._____._._ �,�, � ��:'����Emile �:�����aa��� .�f� ,..,� �� pA �� � � ��.,��.��. � .�. � � �� � � � � � � r� �.�'��. .�..����;Mn����� �r Parker B�,r�c��ui� r...._..�. September 7, 2001, recorded in Volume 4917, Page 3893, Real Property Records, Denton County, Texas. E. Ternas and provisions of Right-of-Way Agreement from Sidney Baudouin to Crosstex CGNG Transmission Ltd. dated January 18, 2Q03, filed April 8, 2043, recorded in Volume S3Q7, Page 4484, Real Property Reaords, Denion Couxaty, Texas, and as shown per survey by Todd B. Turner, R.P.L.S. Na, 4859, dated Aprit 1 S, 2014. F. Terms and provisinns of �tight-of-Way Agreement from Sidney Baudouin to Crosstex CCNG Transmission Ltd. dated January 18, 2003, �led April $, 2003, recorded in Volume 5307, Page 4487', Real 1'roperty Records, Denton County, Texas, and as shown per survey by Todd B. Turner, R.P.L.S. No. 4859, dated April 18, 2014. G. Oil, Gas and Mineral Lease executed by 1'aul-Emile Baudouin to Eagleridge Energy, LLC, dated April 11, 2012, filed May 1, 20I2, recorded in CC#2012-45176, Real Property Recnrds, Denton County, Texas. H. Easement created in instrurnent to Southwesterra Gas Pipeline, Inc., recorded in Volume Sb8, Page 308, Real Property Recards, Denton County, Texas, and as shown per survey by Todd B. Turner, R.P.L.S. No. 4859, dated April 18, 2014. Grantor hereby assigns to Grantee, w.ithout recourse or represet�tation, any and all claims and causes of action that Grantor may have for ox related to any defects in, or injury to, the Property. TO HAVE AND TO HOLD the Property, together with all and singular the rights and appttrtenances thereto in anywise belonging unto Grantee and Grantee's successors and assigns Forever; and Grantor does hereby bind Grantor and Grantor's successors and assigns to WARRANT AND FOREVER DEFEND all and singular the Property unto Grantee and Grantee's successors and assigns, against every person whomsoever lawfully claiming or to clairrt tha sanne or any part thereof when the claim is by, through, or under Grantor but not otherwise. EXECUTED the �_ day of �� Benjamin 1'arker Baudouin ACKNOWLEDGMENT "�"T��:�1�"�"'1;��" �.������� G4��"��i"�" t��� � �''�,��...�_W�.� This instrumenC was acknawledged before me on �. "�� ��� �� mmm�� _� 2014 by Paul- Emiie Baudouin. � � �,. DEANNA VANORRVEEN ���� �" .���`� � �� � � �� ��• ��..�w � � � � � 1����x� Fublic, State of T�x�a� � � � �.•.. - _. � � STAiF OF 1kxAS � � `"� �� ��� � My pa,m, [„p. Nov. e, 2ots My commission expires: ��� �� m� �.��" ACKNOWLEDGMENT THE ���'r� TE OF COC���[T�" OF This i���t�~�,�5������� was acknowledged ��fw�r� me on �� ����°��w Saudouin. Upon Filing Return To: The City oi Denton-Engineering Attn: Paul Wil[iarnsan 901-A Texas Street Denton, TX 76209 2014 by Notary�r�s"�, State of Texas 5�,,��'�������ssion expires: �� Property Tax Bills To: City of Denton Finance Dapartment 215 E. McKinney Street Denton, Texas 76201 THE STATE ��F COUNT'Y �� This Ernile B�a�a�l� 1 ! 0 � ��rt ��� acknowledged �����>�;'� me on ! 1 THE STATE OF�-��C.� _ § CaUNTY OF I��eS § N��i'�'��'�l�al��;, State of Texas My commission expires: „ .. 14 by Faul- This instrument was aoknowled�ed befar� me on __ �, �` 2014 hy � � Benjamin Packer Saudouin. ��mm�µ �� � �� � � w� � ��� ����. �/ �,r��� TRACY RICKEY � � Notary Public ����� STATE OF TEXAS � �"�"�� My Comm. Exp. 01-03-18 . n n ,w,�9�,���^�^-�. ��:�w;�,� m�,,r^�^.�d �r .wu�r^r�°..' Upon Filing Return To: The City of Denton-Engineering Attn: Paul Williarnsan 901-A Texas Str�et Denton, T'X 76209 ��,,, � 1������� ,.. ������ Ip�, ��',����I�� [�"�����a� ��..�. �� . ���xr�i:�����r� a ���,�„�aa� �`�.. �roperty Tax Bills Ta: City of Denton Finance Department 215 E. McKinney Street Dentan, Texas 76201 EXHIB{T "A" LEGAL DESCRIPTION Paul-Emile and 8enjamin ParkerBaudouin Tract TRACT ONE BElNG a 22.38 acre tract of land situated in the B,B.B, & C, R,R, Co. Survey, Abstract No. 196, City of Denton, Denton Couniy, Texas, and being known as that tract af land described in a Deed to PauE-Emile Baudouin and Benjamin Parker Baudouin, as racorded in Document No. 2Q11-35969 of the Real Properfy Records of Denton County, Texas, and being more particularly described as follows: BEGINIVING at a 1/2 inch square pipe found for corner in the West line of F.M. Highway No. 183Q (an 80' wide right-of-way also known as Country Club Road), said point being the Southeast corner of the above cited Baudouin tract and the Northeast corner of a calfed 12.46 acre tract af land described in a Deed to Connie M. Altemus, as recorded in Volume 901, Page 774 of the Deed Recards of Denton County, Texas; TtiENCE North 89°45'29" West dsparting the West fine of said F.M. Fiighway 1Vo. 183Q, and alting the Souih line of said Baudouin tract and the North fine nf said Altemus tract, for a disfance of 918.84 #eet to a 1/2 inch square pipe found for corner at the vccupied Southwest corner of said Baudouin tract, said point alsa being in the Easterly line of the G.C. & S.F. Railroad (a variable width right-of-way); THENCE North 35°23'18" West along the Westerly line oE said Baudouin tract and the Easterly line of said Railroad, for a distance of 988.96 #eet #o a 1/2 inch Eron rod found for corner at the occupied Npr�hwest corner of said Baudouin tract, said point also being the Southwesfi corner of Block B per the Final Plat of Bent Creek Esfates, Phase I, as recorded in Cabinet 0, Page 85 of the Plat Recards of Denton County, Texas; THENCE North 89°41'�0" Easi departing the Easterly line of said Railroad, and along the North line of said Baudouin tract and the South I'tne of said �(ock B, passing a 1/2 inch irnn rod with cap stamped "CORWIN ENG INC" faund for the Southeast carner of said Block B and the Southwest corner of Creekbend Drive (a caJied. 50' wide right-of-way per said Plat of Bent Creek Estates, Phase I) aE a dEsfance of 564.23 feet, and continuing along the North line of said Baudouin and the South line of said Creekbend Urive, passing a 1/2 inch iron rod with cap stamped "CORWIN ENG INC" found for the Sou#heast corner of said Creekbend Drive and the Southwesi corner of Block A per said Pfat of Bent Creek Estates, Phase I, at a distance of 614.18 feet, and continuing along the North line of said Baudouin tract and the South line of said Blocic A, for a tote! distance of 1479.67 feet ko a 5/8 inch iron rod with cap stamped "TNP" se# far corner in the West line af said F.M. Highway No. 1830, said point alsp being the Northeast corner of said Baudouin tracfi; 7HENCE South pQ°50'01" East alang the West fine of said F.M. Highway No. 9830, for a distance of 818.39 fe�t to the POINT OF BEGINNING, and containing 22.38 acres of land, more or less, r�racr rwo BEiNG a 27.86 acre tract of land si#uated in the B.B.B. & C. R.R. Co, Survey, Absfiract No. 196 and the W. Roark Survey, Abstract fVo, 1087, City of Denion, Denton County, Tsxas, and being known as that tract of land described in a Deed to Paul-Emile Baudouin and Benjamin Parker Baudouin, as recorded in Document M1lo. 2011-35970 of the Rea! Property Records of Denton County, Texas, and being more particularly described as follows: BEGINNING at a 1/2 inch square pipe found for corner in the Wesferly line of the G.C. & S.F. Railroad (a variable width righ#-of-way), said point being the Southaast corner of fhe above cited Baudouin fract and Page 9 of 2 DEN941 ?B the Northeast corner of a called 37,87 acre tract of fand described in a Deed to Connie M. Aftemus, as recorded in Volume 901, Page 777 of the Deed Records of pentvn County, Texas; 1"HENCE North 89°45'23" West alang the 5outh line of said Baudouin fract and the North line of said Altemus tract, for a distance of 1533.46 feet to a 1/2 inch square pipe found for corner at the occupied Southwest corner of said Baudouin trac# and the fVorthwest corner of said Altemus tract, said point also being in the East line of a called 222.275 acre iracf of land described as the First 7ract in a Deed to Burch Family Farm, Ltd., as recarded in Document No, 2607-110043 af the Real Property Records of Qentnn County, Texas; iFtENCE North 00°44'19" West along the West line of said Baudouin tract and the East line af said Burch Family Farm #ract, for a distance of 67,50 feet ta a point for comer in Hickory Creek; THENCE in a Northwesterly directian along the Westerly line of said Baudouin tract, the Easterly fine of said Burch Family Farm tract and the meancfers of Hickory Creek as follows: North 52°05'S5" West for a distance of 282.19 feefi to a point for corner; North 27°24'15" Wes# for a distance of 171.69 fest to a point for corner; North 31 °16'21" West fior a disfance of 242.77 feet td a point for carner; North 19°13'51" West for a distance of 206.12 feet to a point for corner in the South line of a called 21.472 acre tract of land described in a Deed to the City of Denton, Texas, as recorded in Document No. 1997-55783 nf the Reai prope�ty Records of Denton County, Texas, said point also being the Northwest corner of said Baudouin tract; THENCE Narth 89°53'48" East departing said Hickory Creek, and along the North line of said Baudauin tract anct the South line of said City of Denton tract, passing a 5/8 inch iron rad with cap stamped "TNP" set for reference at a distance of 48.00 feet, and continuing along the North fine of said Baudouin tract and the South line of said City of Denton tract, for a total di.stance of 1429.3D #eet to a 1/2 inch iran rod found for corner at the occupied Northeast corner of said Baudouin tract, said poin# also being in the Westerly line of said Railroad; THENCE South 35°99'OZ" East along the Easterly li.ne of said Baudouin tract and the Westerly line af said Railroad, for a distance of 338.09 feet to a 1/2 inch iron rod found for carner ai an angle point; THENCE South 42°26'S9" East continuing along the Easterly line of said Baudouin tract and the Westeriy line of said Railroad, for a distance of 2p1.49 feet to a 5/8 inch iron rod with cap stamped "TNP" set for corner at an angle point; THENCE South 35°19'02" East continuing along the Easter[y line of said Baudouin tract and the Westerly line of said Railroad, for a distance of 465.63 feet to the POINT O� BEGINNlNG, and cpntaining 27.86 acres of land, more or less. Page 2 of 2 DEN14196 Denton County Cynthia Mitchell County Clerk Denton, TX 76202 70 201 4 00068888 Instrument Number: 2014-68888 Recorded On: July 15, 2014 Parties: BAUDOUIN PAUL-EMILE To Comment: Warranty Deed Total Recording: 58.00 58.00 As Warranty Deed ( Parties listed above are for Clerks reference only ) ** Examined and Charged as Follows: ** Billable Pages: 9 Number of Pages: 9 *****"`"'***** DO NOT REMOVE. THIS PAGE IS PART OF THE INSTRUMENT ""********""�"` Any provision herein which restricts the Sale, Rental or use of the described REAL PROPERTY because of color or race is invalid and unenforceable under federal law. File Information: Document Number: 2014-68888 Receipt Number: 1185507 Recorded Date/Time: July 15, 2014 04:20:34P User / Station: S Parr - Cash Station 3 Record and Return To: THE CITY OF DENTON 901 A TEXAS ST DENTON TX 76209 .��„�, � � �r 7���, � �� . ���� �' � ° �� �� ��� � r ` r ��� r* "� �'� r" � �"""�F .�°���'� �.�"" ' ��,�,.-,..� THE STATE OF TEXAS } COUNTY OF DENTON } I here6y cartlfy that thls Instrument was FILED In the Flle Number sequence on the date/tlme printed heron, and was duly RECORDED In the Offlclal Records of Denton County, Texas. '�d«4 County Clerk Denton County, Texas WAIVER AND RELEASE OF SURFACE RIGHTS .�1GREEMENT STATE 4F TEXAS DENTON COUNTY § � '' � Fr�cT�J � p�r�6 �'fa�� ►�"��i€�°a�r ��n� I'��ls�G ��. �af �ux�"���� � ����t ��;r��ra����t +��"���°��r+��►��r,� is made and en����� a�tt�� �� +al° tl�� � c.ia� �� ��.r��, ��N li 4 :r;� ������-��rra�lc� ��������ir� ����1 Benjamin Parker C������in, (r����•r� �� 1���•�i�� �:��Ir���;�v�ly �a� `�d:���a��-"') �'c�x� �k��, �,����fi:t c�f the City of Denton, Texas ("City"). RECITALS: A. Owner, is the surface owner of ce�tain real property located in Denton County, Texas as more particularly described on Exhibit "A" (the "Waiver Praperty") and the minecal estate relating ta the Waiver Pxaperty. B. Owner is selling and conveying the surface of the Waiver Property to the City on or about the date hereof (the City, together wrth any successors and assigns who own any portion of the suz�ace of the Waiver Aroperty is referred #o as a"Surface Owner" with respect to the surface lands owned by it). D. Owner has agreed to execute this instrument to confirtn and agree that the� individually and collecCively waive and release all right to use the surface of the Waiver Froperty as provided below. AGREEMENTS: NOW, THEREFORE, in cansideration of the premises ana other good and valuable consideration, the receipt and sufficiency of which are hereby mutually acknowledged, the Owner covenants and agrees as follows: 1. Retease and Waiver. 4wner waives and releases, on behalf of �wner and Owner's successors and assigns, all rights of ingress and egress and atl other rights to enter upon or to use the surface of the Waiver Property or any part thereof in any way, mannex or form, in connection with or related to the minerals and/or related to exploration arad/or production of the nninerals, i;ncluding without limitation, use or access of the surface of the Waiver Property for the location of any well or drill sites, well bores, whether vertical or any deviation from vertical, wa#er wells, pit areas, seismic activities, tanks or tank batteries, pipelines, roads, electricity ar other utility infrastructure, and/or for suhjacent or lateral support for any surface facilities or well bores, or any other infrastructure or improvement of any kind or type in connection with or related to the minerals, and/ar re[ated to the exploration or production Of 5a7T16; provided further, however, nothing herein shall prevent Owner or its successors and assigns from exploring for, deveIoping and/or producing the minerals in and under the Waiver Property by pooling or by dicectional drilting under the Waiver Property frnm well sites or mining sites located on other Waiver Property. As used harein, fihe term "surface of the Property" shall inc[ude the area from the surface of the earth to a depth of �ve hundred feet (504') beiaw the surface of the earth. 2. Current Holder nf Ri�hts. Owner represents and warrants thafi Owner is the current holder of the minerals. 3. Successors and Assisns. The acknowledgements and agrea�nents of Owner hereunder shall (i) run with. the Waiver Froperty for the benefit of the City, (ii) inure to the beneiit of and be enforceable by the City, and its respective legal representatives, successors and assigns of and (iii) be binding upon and enforceable against and its legal representatives, successors and permitted assigns. 4. Other/Miscetlaneous. (a) Choice oi Law, THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS 4F THE UNITED STATES OF AMERICA AND THE INTERNAL LAWS OF THE STATE OF TEXAS, WITHOUT REGARD TO ITS C4NFLICT OF RULES. (b) Headings. The titles and article headings contained herein are for purposes of identification only and shall not be considered in constn,�ing this Agreement. (c) Notices. Any notice, report or demand by the City to Owner with respect to this Agreement sha11 be in writing and shall be deemed to have been suffciently given or served to Owner for atl purposes upon Owner's receipt or refusal of receipt when sent by (i} registered or certi�ed mail, return receipt requested, or (ii) personal hand delivery, or (iii} overnight courier service, to the at the address shown beneath Owner's signatures below. EXECUTED to be effective as oithe first date ����Te' ����r� written. ,.�, BY� ��.._ -� �,. Paul ����� � � d � "� �m_�_ � ���� Y._�......m ��� �c��ur� - _ Address: 2Q12A E 22°d St. Austin, TX. 78722 � STATE OF "'�"�fi���.� +�:"��.I1��"Y This iri�����xr��r�:t. Paul —Emile ���uc���tai�� , �� STATE OF —���� r �,,,,, �5 COUNTY �� � ..,,� . ,Y�" `M•� ,,d � , F:�� � � r " �" _ � � � �� � �. „ � �� �� M�w ���.��� �..� .�m���— � .�. _�� � „� � �� �3�������� Parker �3����c��:�w���� Address: 2009 Ashby Avenue #A Austin, TX 7&722 ACKN�WLEDGEM�NT � acknowledged ��������°c� me oi� the day of J��l�, 2014, by Notary Public, State of Texas ACKNOWLEDGEMENT '�] �� This instrument was acknowledged be%re tne on the �� day of July, 2414, by, Benjamin Parker Baudouin � � . � � ��rw ''� �,�^�a��„ TRIOCY RICICEY � � � '�" Notery Public � �� �„� � STATE OF TEXR+S � Po �,°" �� My C�mm. Exp. 01-03-18 � � m.:;�w��.� .. ^^�r��,. ����:R;, , After Recording Return To: City of Denton Paul Williamson, Real Estate Managec 90 I -A Texas St. Denton, TX 76209 .� ..�....�... . � � ° ....._ � Notary I"� . IC, � ek1��' k�� �'�cN,� ......�..... ...� STATE OF TEXAS COUNTY : Benjamin Parker Baudouin Address: 2009 Ashby Avenue #A Austin, TX 78722 ACKNOWLEDGEMENT § § This instrurnent was acknowledged before me on the �� day of July, 2014, by Paul —Emile Baudouin ___ �^��� DEANNA VANDERVEEN ��� Noqry Public STATE OF TEXAS �"a� � MY I�DrmG Exp. Nov. 9, �Cfi1t ACKNOWLEDGEMENT STAT� %��4',,., § COUNTY § This � �t'r�������t r���� � � Benjamin ���� ��• �������c�u�i� 1'edged before ��� on the After Recordin� Return To: City oiDentota Paul Williamson, Real Estate Manager 901-A Texas St. Denton, TX 76209 k,.r' � �" �: "� .� Public, State of Texas day of July, 2014, by, l�e�t�a�� �t.�k��ic, State of Texas EXHIBIT "A" LEGAL DESCRIPTfON Paul-Emile and BenJamin Parker Baudouin Tract TRACT ONE BEING a 22.38 acre tract of land situated in the B.B,B. & C, R.R. Co. Suruey, Abstract No. 196, City of Denton, Denton Couniy, Texas, and being known as that tract of fand described in a Deed to Paul-Emife Baudouin and Benjamin Parker Ba�douin, as recorded in Document No. 2011-35969 of #he Real Property Records of [7enton County, Texas, and being more particularfy described as fallows: BEGINNING at a 4/2 inch square pipe found for corner in the West line o# F.M. Highway No. 1830 (an Bf}' wide right-of-way alsa known as Country Club Raad}, said point being the Sautheast cnrner af the above cited Baudouin #ract and the Northeast corner of a called 1.2.46 acre tract of land described in a Deed to Cannie M. A(temus, as recorded in Volume 901, Page 774 of the Deed Records of Denton Counfy, Texas; THENCE North 89°45'29" West departing the Wesfi line vf said F.M. Highway No. 1834, and alang the South line of said Baudouin tract and the North line of said Altemus tract, for a distance of 918.84 feet to a 1/2 inch square pipe fnund for corner at #he occupied 5outhwest corner af said Baudouin tract, said point also being in the Easterly line of the G.C. & S.F. Raitroad (a variable width right-af-way); 7HENCE North 35°23'18" West along the Westeriy line of said Baudouin track and the Easterly iine of said Railroad, for a distance of 988.96 feet to a'1/2 inch iron rod tound for corner at the occupied Norfihwest corner of said Baudouin tract, said point afso being the Southwest corner of Block B per the Final Plat of Bent Creek Estates, Phase I, as recorded in Cabinet O, Page 85 of the Piat Records of Denton County, Texas; THENCE North 89°41'QO" East departing the Easterfy line of said Railroad, and along the North iine ofi said Baudouin tract and the South line of said Block B, passing a 1/2 inch iron rod with cap stamped "CORWIN ENG INC" found for the Southeast corner of said Block B and the Southwest corner of Creekbend Drive (a called 50' wide right-of-way per said Plat of Bent Creek Estates, Phase I) et a distance of 564.23 feet, and continuing afong the N��rth line of said Baudouin and the South line of said Creekbend prive, passing a 112 inch iron rod with cap stamped "CORWIN ENG INC" found for the Southeasi corner of said Creekbend Drive and the Southwesfi corner of 81ock A per said Plai of Bent Creek Estafies, f'hase f, ai a distance of 614.1 S feet, and continuing along the North line of said Baudouin kract and the South line of said Block A, for a total distance of 1479.67 feet to a 5/8 inch iron rod with cap stamped "TNP" set for corner in the West line of said F.M, Highway No, 9830, said point also being the Northeast corner af said Beudouin tract; THENCE South 00°50'01" East along the West line of said F.M. Highway No. 1830, for a distance nf 818.39 feet to the POINT OF BEGINIVING, and containing 22.38 acres of land, more or less. TRACi TWO BEING a 27.86 acre tract of land situated in the B.B.B, & C. R.R. Cn. Survey, Abstract Na. 196 and the W. Fioark Survey, Absfract No. 1087, City of Denton, Denton County, Texas, and being known as that tract of land described in a beed to Pa�i-Emile Baudouin and Benjamin Parker Baudouin, as recorded in Document IVo. 2011-35970 of the Real Property Records of Denton County, Texas, and being more particularly clescribed as follows: BEGINNING at a 1/2 inch square pipa faund for carner in the Westerly line o# the G.C. & S.F. Raiiroad (a variable width right-of-way), said point being the Sautheast corner of the above cited Baudouin tract and Page 1 of 2 DEN74996 the Northeast corner of a called 37.87 acre tract of land described in a Deed to Cannie M. Altemus, as recorded in Volume 901, Page 777 of the Deed Records of Denton County, Texas; THENCE North 89°45'23" Wesf along ihe South line of said Baudouin tract and the North line of saic! A�temus tract, for a distance of 1533.46 feet to a 1/2 inch square pipe found far corner at the occupied 5outhwest corner of said Baudouin tract and the Nflrfhwest corner of said Altemus tract, said point also being in ihe East line of a called 222.275 acre tract of land described as the First 7ract in a Deed to Burch Family Farm, Ltd., as reco�ded in Docurr�ent IVo. 2007-110043 of the Real Property Records of Denton County, Texas; THENCE North QO°44'19" West along the West line of said Baudouin tract and the East line of said Burch Family Farm #ract, for a distance of 67.50 teet to a point for corner in Hickory Creek; THENCE in a Northwesterly direction alang khe Westerly line nf said Baudouin tract, the Easterly line oi said Burch F'amily Farm tract and the meanders of Nickary Creek as follows: North 52°05'55" West for a disfi�nce of 282.19 feet fn a point for corner; North 27°24'15" West for a distance of 171.69 #eet to a paint for carner; NorFh 31 °16'21" West for a distance of 242.77 feet to a point for cvrner; Narth 19°13'S1" West for a distance of 206.12 fieet to a point for corner in ihe South line of a called 24.472 acre iract of land described in a Deed to the City of Denton, Texas, as recorded in Document No, 1897-55783 of the Real Property Records af Denton County, T'exas, said point also being the Northwest corner of said Baudouin tract; iMENCE North 89°53'48" E�st departing said Mickory Creek, and afong the North line of said Baudouin tracf and the South line af said City of Denion tracf, passing a 518 inch iron rod with cap stamped "TNP" set for reference at a distance of 48.00 feet, and corttinuing along the Nvrth line of said Baudouin tracfi and the South line of said City of Denfon tract, fior a total distance of 1429.3Q feet to a 1/2 inch iron rod found for corner ak the occupied Northeast carner of said Baudouin tract, said point also being in the Westerly line of said Railroad; TMENCE South 35°19'02" East along the Easterly line of said Baudouin tracf and the Westerly line of said Railroad, for a ciistance of 338.09 feet to a 1/2 inch iron rod found for corner at an angle point; 7HENCE South 42°26'S9" East continuing along the Easterly line of said Baudauin tract and the Westerly line of said Railroad, for a distance of 201.49 feet to a 5/8 inch iron rod with cap stamped "TNP" set for corner at an angle point; THENCE South 35°19'Q2" East cantinuing along fhe Easterly fine of said Baudouin tract and the Westerly line of said Railrnad, for a distance of 465.63 feet to the POIN7 OF BEGINNING, and containing 27.86 acres of land, more ar less. Page 2 of 2 DEN94196 Denton County Cynthia Mitchell County Clerk Denton, TX 76202 7D 2014 00�68H89 Instrument Number: 2014-68889 Recorded On: July 15, 2014 Parties: BAUDOUIN PAUL-EMILE To Comment: Waiver 50.00 Total Recording: 50.00 As Waiver ( Parties listed above are for Clerks reference only ) ** Examined and Charged as Follows: ** Billable Pages: 7 Number of Pages: 7 ************ DO NOT REMOVE. THIS PAGE IS PART OF THE INSTRUMENT ************ Any provision herein which restricts the Sale, Rental or use of the described REAL PROPERTY because of color or race is invalid and unenforceable under federal law. File Information: Document Number: 2014-68889 Receipt Number: 1185507 Recorded Date/Time: July 15, 2014 04:20:34P User / Station: S Parr - Cash Station 3 Record and Return To: THE CITY OF DENTON 901 A TEXAS ST DENTON TX 76209 ,� �,� 7� �`� „,,. N �"'�",a /�,��" "� �+� � � F'i� ��Yf� � 9� L ` °" � � �p � �� �� � ��n � � ���' � �w„,`•� ��±��� ��" THE STATE OF TEXAS } COUNTY OF DENTON } I hereby certlfy that thls Instrument was FILED In the Flle Number sequenca on the date/tlme printed heron, and was duly RECORDED In the Ofllclal Records of Denton County, Texas. �"�"�- County Clerk Denton County, Texas � �� m��������'�� „�`..m...,. �����m�, ,��W,��w Capital Title of Texas, LLC - Denton Urbina 620 West Hickory Denton, TX 76201 Phone 940-565-1919 Fax 940-565-1917 OWNER POLICY OF TITLE INSURANCE TRANSMITTAL September 29, 2014 City of Denton, Texas, a Home Rule Municipal Corporation 901-A Texas Street Denton, TX 76207 RE: Order No.: 14-176283-DU Buyer/Borrower(s): City of Denton, Texas, a Home Rule Municipal Corporation Sellers(s): Paul-Emile Baudouin and Benjamin Parker Baudouin Property Address: Approx 50.33 acres in the BBB & CRR Survey, A-196 -- preliminary legal in scanfile, , TX In connection with the above transaction, we enclose your Owner Policy of Title Insurance. Your deed has been filed for record in the County Clerk's Office and it will be mailed directly to you from that office. It has been a pleasure to serve you. If we may assist you in the future, please let us know. Jorge Urbina JUrbina@ctot.com Order No. 14-176283-DU OTP Transmittal Page 1 of 1 Rev. 01/06 Policy No.: TXT11171427 OWNER'S POLICY OF TITLE INSURANCE (T-1) Issued by FIRST NATIONAL TITLE INSURANCE COMPANY Any notice of claim and any other notice or statement in writing required to be given the Company under this Policy must be given to the Company at the address shown in Section 18 of the Conditions. COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS, First National Title Insurance Company, a Texas corporation (the "Company") insures, as of Date of Policy and, to the extent stated in Covered Risks 9 and 10, after Date of Policy, against loss or damage, not exceeding the Amount of Insurance, sustained or incurred by the Insured by reason of: 1. Title being vested other than as stated in Schedule A. 2. Any defect in or lien or encumbrance on the Title. This Covered Risk includes but is not limited to insurance against loss from: (a) A defect in the Title caused by: (i) forgery, fraud, undue influence, duress, incompetency, incapacity or impersonation; (ii) failure of any person or Entity to have authorized a transfer or conveyance; (iii) a document affecting Title not properly created, executed, witnessed, sealed, acknowledged, notarized or delivered; (iv) failure to perform those acts necessary to create a document by electronic means authorized by law; (v) a document executed under a falsified, expired or otherwise invalid power of attorney; (vi) a document not properly filed, recorded or indexed in the Public Records including failure to perform those acts by electronic means authorized by taw; or (vii) a defective judicial or administrative proceeding. (b) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable, but unpaid. (c) Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land. The term "encroachment" includes encroachments of existing improvements located on the Land onto adjoining land, and encroachments onto the Land of existing improvements located on adjoining land. (d) Any statutory or constitutional mechanic's, contractor's, or materialman's lien for labor or materials having its inception on or before Date of Policy. 3. Lack of good and indefeasible Title. 4. No right of access to and from the Land. 5. The violation or enforcement of any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting or relating to: (a) the occupancy, use or enjoyment of the Land; (b) the character, dimensions or location of any improvement erected on the Land; (c) subdivision of land; or (d) environmental protection if a notice, describing any part of the Land, is recorded in the Public Records setting forth the violation or intention to enforce, but only to the extent of the violation or enforcement referred to in that notice. COVERED RISKS Continued on next page IN WITNESS WHEREOF, FIRST NATIONAL TITLE INSURANCE COMPANY has caused this policy to be signed and sealed as of the Date of Policy shown on Schedule A. � ��� By Authorized Signatory > �;i � � �°`��G��`�"" ���,����:���:�.� ���°�'�...� �I.�u��..���,��.."� �"�� ,. ���� �� � � �� � � �� �� �� �� � �° � ° C�� y ��� ._ ��.� ,� � �.. . ..�n��.. 1 �Urru�,lG���A�r�'rr�Vt„.��,�����a4��uCi��,��;N , ��� a,��� �,����i Ih^�� ��^� � r � . � .u,. , u.... �, ... p��;� r��u���� �u�� �°"���� �q�r�r����.w�' B b��;�� FORM T-1: Owner's Policy of Title Insurance (For Use Only in Texas) Effective 1/3/2014 6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action, describing any part of the Land, is recorded in the Public Records, but only to the extent of the enforcement referred to in that notice. 7. The exercise of the rights of eminent domain if a notice of the exercise, describing any part of the Land, is recorded in the Public Records. 8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge. 9. Title being vested other than as stated in Schedule A or being defective: (a) as a result of the avoidance in whole or in part, or from a court order providing an alternative remedy, of a transfer of all or any part of the title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy, state insolvency or similar creditors' rights laws; or (b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy, state insolvency or similar creditors' rights laws by reason of the failure of its recording in the Public Records: (i) to be timely, or (ii) to impart notice of its existence to a purchaser for value or a judgment or lien creditor. 10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of any matter insured against by this Policy, but only to the extent provided in the Conditions. EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees or expenses that arise by reason of: 1. (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting or relating to: (i) the occupancy, use, or enjoyment of the Land; (ii) the character, dimensions or location of any improvement erected on the Land; (iii) subdivision of land; or (iv) environmental protection; or the effect of any violation of these laws, ordinances or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5. (b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects, liens, encumbrances, adverse claims or other matters: (a) created, suffered, assumed or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 9 and 10); or (e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title. 4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that the transaction vesting the Title as shown in Schedule A, is: (a) a fraudulent conveyance or fraudulent transfer; or (b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy. 5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. 6. The refusal of any person to purchase, lease or lend money on the estate or interest covered hereby in the land described in Schedule A because of Unmarketable Title. CONDITIONS 1„ DEFINITION OF TERMS. The following terms when used in this policy mean: (a) "Amount of Insurance": the amount stated in Schedule A, as may be increased or decreased by endorsement to this policy, increased by Section 8(b), or decreased by Sections 10 and 11 of these Conditions. (b) "Date of Policy": The date designated as "Date of Policy" in Schedule A. (c) "Entity": A corporation, partnership, trust, limited liability company or other similar legal entity. (d) "Insured": the Insured named in Schedule A. FORM T-1: Owner's Policy of Title Insurance (For Use Only in Texas) Effective 1/3/2014 (i) The term "Insured" also includes: (A) successors to the Title of the Insured by operation of law as distinguished from purchase, including heirs, devisees, survivors, personal representatives or next of kin; (B) successors to an Insured by dissolution, merger, consolidation, distribution or reorganization; (C) successors to an Insured by its conversion to another kind of Entity; (D) a grantee of an Insured under a deed delivered without payment of actual valuable consideration conveying the Title; (1) If the stock, shares, memberships, or other equity interests of the grantee are wholly-owned by the named Insured, (2) If the grantee wholly owns the named Insured, (3) If the grantee is wholly-owned by an affiliated Entity of the named Insured, provided the affiliated Entity and the named Insured are both wholly-owned by the same person or Entity, or (4) If the grantee is a trustee or beneficiary of a trust created by a written instrument established by the Insured named in Schedule A for estate planning purposes. (ii) With regard to (A), (B), (C) and (D) reserving, however, all rights and defenses as to any successor that the Company would have had against any predecessor Insured. (e) "Insured Claimant": an Insured claiming loss or damage. (fl "Knowledge" or "Known": actual knowledge, not constructive knowledge or notice that may be imputed to an Insured by reason of the Public Records or any other records that imp;art constructive notice of matters affecting the Title. (g) "Land": the land described in Schedule A, and affixed improvements that by law constitute real property. The term "Land" does not include any property beyond the lines of the area described in Schedule A, nor any right, title, interest, estate or easement in abutting streets, roads, avenues, alleys, lanes, ways or waterways, but this does not modify or limit the extent that a right of access to and from the Land is insured by this policy. (h) "Mortgage": mortgage, deed of trust, trust deed, or other security instrument, including one evidenced by electronic means authorized by law. (i) "Public Records": records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without Knowledge. With respect to Covered Risk 5(d), "Public Records" shall also include environmental protection liens filed in the records of the clerk of the United States District Court for the district where the Land is located. (j) "Title": the estate or interest described in Schedule A. (k) "Unmarketable Title": Title affected by an alleged or apparent matter that would permit a prospective purchaser or lessee of the Title or lender on the Title to be released from the obligation to purchase, lease or lend if there is a contractual condition requiring the delivery of marketable title. 2. CONTINUATION OF INSURANCE. The coverage of this policy shall continue in force as of Date of Policy in favor of an Insured, but only so long as the Insured retains an estate or interest in the Land, or holds an obligation secured by a purchase money Mortgage given by a purchaser from the Insured, or only so long as the Insured shall have liability by reason of warranties in any transfer or conveyance of the Title. This policy shall not continue in force in favor of any purcPiaser from the Insured of either (i) an estate or interest in the Land, or (ii) an obligation secured by a purchase money Mortgage given to the Insured. 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT. The Insured shall notify the Company promptly in writing (i) in case of any litigation as set forth in Section 5(a) below, or (ii) in case Knowledge shall come to an Insured hereunder of any claim of title or interest that is adverse to the Title, as insured, and that might cause loss or damage for which the Company may be liable by virtue of this policy. If the Company is prejudiced by the failure of the Insured Claimant to provide prompt notice, the Company's liability to the Insured Claimant under the policy shall be reduced to the extent of the prejudice. When, after the Date of the Policy, the Insured notifies the Company as required herein of a lien, encumbrance, adverse claim or other defect in Title insured by this policy that is not excluded or excepted from the coverage of this policy, the Company shall promptly investigate the charge to determine whether the lien, encumbrance, adverse claim or defect or other matter is valid and not barred by law or statute. The Company shall notify the Insured in writing, within a reasonable time, of its determination as to the validiry or invalidity of the Insured's claim or charge under the policy. If the Company concludes that the lien, encumbrance, adverse claim or defect is not covered by this policy, or was otherwise addressed in the closing of the transaction in connection with which this policy was issued, the Company shall specifically advise the Insured of the reasons for its determination. If the Company concludes that the lien, encumbrance, adverse claim or defect is valid, the Company shall take one of the following actions: (i) institute the necessary proceedings to clear the lien, encumbrance, adverse claim or defect from the Title as insured; (ii) indemnify the Insured as provided in this policy; (iii) upon payment of appropriate premium and charges therefor, issue to the Insured Claimant or to a subsequent owner, mortgagee or holder of the estate or interest in the Land insured by this policy, a policy of title insurance without exception for the lien, encumbrance, adverse claim or defect, said policy to be in an amount equal to the current value of the Land or, if a loan policy, the amount of the loan; (iv) indemnify another title insurance company in connection with its issuance of a policy(ies) of title insurance without exception for the lien, encumbrance, adverse claim or defect; (v) secure a release or other document discharging the lien, encumbrance, adverse claim or defect; or (vi) undertake a combination of (i) through (v) herein. 4. PROOF OF LOSS. In the event the Company is unable to determine the amount of loss or damage, the Company may, at its option, require as a condition of payment that the Insured Claimant furnish a signed proof of loss. The proof of loss must describe the defect, lien, FORM T-1: Owner's Policy of Title Insurance (For Use Only in Texas) Effective 1/3/2014 encumbrance or other matter insured against by this policy that constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the loss or damage. 5. DEFENSE AND PROSECUTION OF ACTIONS. (a) Upon written request by the Insured, and subject to the options contained in Sections 3 and 7 of these Conditions, the Company, at its own cost and without unreasonable delay, shall provide for the defense of an Insured in litigation in which any third pariy asserts a claim covered by this policy adverse to the Insured. This obligation is limited to only those stated causes of action alleging matters insured against by this policy. The Company shall have the right to select counsel of its choice (subject to the right of the Insured to object for reasonable cause) to represent the Insured as to those stated causes of action. It shall not be liable for and will not pay the fees of any other counsel. The Company will not pay any fees, costs or expenses incurred by the Insured in the defense of those causes of action that allege matters not insured against by this policy. (b) The Company shall have the right, in addition to the options contained in Sections 3 and 7, at its own cost, to institute and prosecute any action or proceeding or to do any other act that in its opinion may be necessary or desirable to establish the Title, as insured, or to prevent or reduce loss or damage to the Insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be liable to the Insured. The exercise of these rights shall not be an admission of liability or waiver of any provision of this policy. If the Company exercises its rights under this subsection, it must do so diligently. (c) Whenever the Company brings an action or asserts a defense as required or permitted by this policy, the Company may pursue the litigation to a final determination by a court of competentjurisdiction and it expressly reserves the right, in its sole discretion, to appeal from any adverse judgment or order. 6. DUTY OF INSURED CLAIMANT TO COOPERATE. (a) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding and any appeals, the Insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, including the right to use, at its option, the name of the Insured for this purpose. Whenever requested by the Company, the Insured, at the Company's expense, shall give the Company all reasonable aid (i) in securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (ii) in any other lawful act that in the opinion of the Company may be necessary or desirable to establish the Title or any other matter as insured. If the Company is prejudiced by the failure of the Insured to furnish the required cooperation, the Company's obligations to the Insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. (b) The Company may reasonably require the Insured Claimant to submit to examination under oath by any authorized representative of the Company and to produce for examination, inspection and copying, at such reasonable times and places as may be designated by the authorized representative of the Company, all records, in whatever medium maintained, including books, ledgers, checks, memoranda, correspondence, reports, e-mails, disks, tapes, and videos whether bearing a date before or after Date of Policy, that reasonably pertain to the loss or damage. Further, if requested by any authorized representative of the Company, the Insured Claimant shall grant its permission, in writing, for any authorized representative of the Company to examine, inspect and copy all of these records in the custody or control of a third party that reasonably pertain to the loss or damage. All information designated as confidential by the Insured Claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the Insured Claimant to submit for examination under oath, produce any reasonably requested information or grant permission to secure reasonably necessary information from third parties as required in this subsection, unless prohibited by law or governmental regulation, shall terminate any liability of the Company under this policy as to that claim. (c) If the Insured demands that the Company accept a settlement offer that is not greater than the Amount of Insurance or if the Insured expressly agrees that a settlement offer should be accepted, the Company has a right to be reimbursed if it has timely asserted its reservation of rights and notified the Insured that it intends to seek reimbursement if it pays to settle or defend a claim that is not covered by the policy. 7. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY. In case of a claim under this policy, the Company shall have the following additional options: (a) To Pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the Amount of Insurance under this policy together with any costs, attorneys' fees and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment or tender of payment and that the Company is obligated to pay. Upon the exercise by the Company of this option, all liability and obligations of the Company to the Insured under this policy, other than to make the payment required in this subsection, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation. (b) To Pay or Otherwise Settle With Parties Other than the Insured or With the Insured Claimant. (i) to pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against under this policy. In addition, the Company will pay any costs, attorneys' fees and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay; or (ii) to pay or otherwise settle with the Insured Claimant the loss or damage provided for under this policy, together with any costs, attorneys' fees and expenses incurred by the Insured Claimant that were authorized by the Company up to the time of payment and that the Company is obligated to pay. FORM T-1: Owner's Policy of Title Insurance (For Use Only in Texas) Effective 1/3/2014 Upon the exercise by the Company of either of the options provided for in subsections (b)(i) or (ii), the Company's obligations to the Insured under this policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute or continue any litigation. 8. DETERMINATION AND EXTENT OF LIABILITY. This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the Insured Claimant who has suffered loss or damage by reason of matters insured against by this policy. (a) The extent of liability of the Company for loss or damage under this policy shall not exceed the lesser of: (i) the Amount of Insurance; or (ii) the difference between the value of the Title as insured and the value of the Title subject to the risk insured against by this policy. (b) If the Company pursues its rights under Section 3 or 5 and is unsuccessful in establishing the Title, as insured, (i) the Amount of Insurance shall be increased by 10%, and (ii) the Insured Claimant shall have the right to have the loss or damage determined either as of the date the claim was made by the Insured Claimant or as of the date it is settled and paid. (c) In addition to the extent of liability under (a) and (b), the Company will also pay those costs, attorneys' fees and expenses incurred in accordance with Sections 5 and 7 of these Conditions. 9. LIMITATION OF LIABILITY. (a) If the Company establishes the Title, or removes the alleged defect, lien or encumbrance, or cures the lack of a right of access to or from the Land, all as insured, or takes action in accordance with Section 3 or 7, in a reasonably diligent manner by any method, including litigation and the completion of any appeals, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused to the Insured. (b) In the event of any litigation, including litigation by the Company or with the Company's consent, the Company shall have no liability for loss or damage until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals, adverse to the Title, as insured. (c) The Company shall not be liable for loss or damage to the Insured for liability voluntarily assumed by the Insured in settling any claim or suit without the prior written consent of the Company. 10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF LIABILITY. All payments under this policy, except payments made for costs, attorneys' fees and expenses, shall reduce the Amount of Insurance by the amount of the payment. 11. LIABILITY NONCUMULATIVE. The Amount of Insurance shall be reduced by any amount the Company pays under any policy insuring a Mortgage to which exception is taken in Schedule B or to which the Insured has agreed, assumed, or taken subject or which is executed by an Insured after Date of Policy and which is a charge or lien on the Title, and the amount so paid shall be deemed a payment to the Insured under this policy. 12. PAYMENT OF LOSS. When liability and the extent of loss or damage have been definitely fixed in accordance with these Conditions, the payment shall be made within 30 days. 13. RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT. (a) Whenever the Company shall have settled and paid a claim under this policy, it shall be subrogated and entitled to the rights of the Insured Claimant in the Title and all other rights and remedies in respect to the claim that the Insured Claimant has against any person or property, to the extent of the amount of any loss, costs, attorneys' fees and expenses paid by the Company. If requested by the Company, the Insured Claimant shall execute documents to evidence the transfer to the Company of these rights and remedies. The Insured Claimant shall permit the Company to sue, compromise or settle in the name of the Insured Claimant and to use the name of the Insured Claimant in any transaction or litigation involving these rights and remedies. If a payment on account of a claim does not fully cover the loss of the Insured Claimant, the Company shall defer the exercise of its right to recover until after the Insured Claimant shall have recovered its loss. (b) The Company's right of subrogation includes the rights of the Insured to indemnities, guaranties, other policies of insurance or bonds, notwithstanding any terms or conditions contained in those instruments that address subrogation rights. 14. ARBITRATION. Either the Company or the Insured may demand that the claim or controversy shall be submitted to arbitration pursuant to the Title Insurance Arbitration Rules of the American Land Title Association ("Rules"). Except as provided in the Rules, there shall be no joinder or consolidation with claims or controversies of other persons. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the Insured arising out of or relating to this policy, any service in connection with its issuance or the breach of a policy provision, or to any other controversy or claim arising out of the transaction giving rise to this policy. All arbitrable matters when the Amount of Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured, unless the Insured is an individual person (as distinguished from an Entity). All arbitrable matters when the Amount of Insurance is in excess of $2,000,000 shall be arbitrated only when agreed to by both the Company and the Insured. Arbitration pursuant to this policy and under the Rules shall be binding upon the parties. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court of competent jurisdiction. 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT. (a) This policy together with all endorsements, if any, attached to it by the Company is the entire policy and contract between the Insured and the Company. In interpreting any provision of this policy, this policy shall be construed as a whole. FORM T-1: Owner's Policy of Title Insurance (For Use Only in Texas) Effective 1/3/2014 (b) Any claim of loss or damage that arises out of the status of the Title or by any action asserting such claim, shall be restricted to this poficy. (c) Any amendment of or endorsement to this policy must be in writing and authenticated by an authorized person, or expressly incorporated by Schedule A of this policy. (d) Each endorsement to this policy issued at any time is made a part of this policy and is subject to all of its terms and provisions. Except as the endorsement expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsement, (iii) extend the Date of Policy or (iv) increase the Amount of Insurance. Each Commitment, endorsement or other form, or provision in the Schedules to this policy that refers to a term defined in Section 1 of the Conditions shall be deemed to refer to the term regardless of whether the term is capitalized in the Commitment, endorsement or other form, or Schedule. Each Gommitment, endorsement or other form, or provision in the Schedules that refers to the Conditions and Stipulations shall be deemed to refer to the Conditions of this policy. 16. SEVERABILITY. In the event any provision of this policy, in whole or in part, is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provision or such part held to be invalid and all other provisions shall remain in full force and effect. 17. CHOICE OF LAW; FORUM. (a) Choice of Law: The Insured acknowledges the Company has underwritten the risks covered by this policy and determined the premium charged therefore in reliance upon the law affecting interests in real property and applicable to the interpretation, rights, remedies or enforcement of policies of title insurance of the jurisdiction where the Land is located. Therefore, the court or an arbitrator shall apply the law of the jurisdiction where the Land is located to determine the validity of claims against the Title that are adverse to the Insured, and in interpreting and enforcing the terms of this policy. In neither case shall the court or arbitrator apply its conflicts of laws principles to determine the applicable law. (b) Choice of Forum: Any litigation or other proceeding brought by the Insured against the Company must be filed only in a state or federal court within the United States of America or its territories having appropriate jurisdiction. 18. NOTICES, WHERE SENT. Any notice of claim and any other notice or statement in writing required to be given the Company under this Policy must be given to the Company at: First National Title Insurance Company, 2400 Dallas Parkway, Ste. 580, Plano, TX 75093. FORM T-1: Owner's Policy of Title Insurance (For Use Only in Texas) Effective 1/3/2014 � ' ''� �i '. � � Issued by . . � . •. � �. � 1'! Name and Address of Title Insurance Company: FIRST NATIONAL TITLE INSURANCE COMPANY ,� File No.: 14-176283-DU Policy No.: TXT11171427 Address for Reference only: Approx 50.33 acres in the BBB & C Survey, A-196 -- preliminary legal in scanfile, , TX Amount of Insurance: $475,000.00 Date of Policy: July 15, 2014, at 04:20 pm 1. Name of Insured: City of Denton, Texas, a Home Rule Municipal Corporation 2. The estate or interest in the Land that is insured by this policy is: Fee Simple 3. Title is insured as vested in: Premium: $3,741.25 Form T-1: Owner's Policy of Title Insarance Rev (1/3/2014) Page 1 The land referred to in this policy is described as follows; TRACT ONE BEING a 22.38 acre tract of land situated in the B.B.B. & C. R.R. Co. Survey, Abstract No. 196, City of Denton, Denton County, Texas, and being known as that tract of land described in a Deed to Paul-Emile Baudouin and Benjamin Parker Baudouin, as recorded in Document No. 2011-35969 of the Real Property Records of Denton County, Texas, and being more particularly described as follows: BEGINNING at a 1/2 inch square pipe found for corner in the West line of F.M. Highway No. 1830 (an 80' wide right-of-way also known as Country Club Road), said point being the Southeast corner of the above cited Baudouin tract and the Northeast corner of a called 12.46 acre tract of land described in a Deed to Connie M. Altemus, as recorded in Volume 901, Page 774 of the Deed Records of Denton County, Texas; THENCE North 89°45'29" West departing the West line of said F.M. Highway Na 1830, and along the South line of said Baudouin tract and the North line of said Altemus tract, for a distance of 918.84 feet to a 1/2 inch square pipe found for corner at the occupied Southwest corner of said Baudouin tract, said point also being in the Easterly line of the G.C. & S.F. Railroad (a variable width right-of-way); THENCE North 35°23'18" West along the Westerly line of said Baudouin tract and the Easterly line of said Railroad, for a distance of 988.96 feet to a 1/2 inch iron rod found for corner at the occupied Northwest corner of said Baudouin tract, said point also being the Southwest corner of Block B per the Final Plat of Bent Creek Estates, Phase I, as recorded in Cabinet O, Page 85 of the Plat Records of Denton County, Texas; THENCE North 89°41'00" East departing the Easterly line of said Railroad, and along the North line of said Baudouin tract and the South line of said Block B, passing a 1/2 inch iron rod with cap stamped "CORWIN ENG INC" found for the Southeast corner of said Block B and the Southwest corner of Creekbend Drive (a called 50' wide right-of-way per said Plat of Bent Creek Estates, Phase n at a distance of 564.23 feet, and continuing along the North line of said Baudouin and the South line of said Creekbend Drive, passing a 1/2 inch iron rod with cap stamped "CORWIN ENG INC" found for the Southeast corner of said Creekbend Drive and the Southwest corner of Block A per said Plat of Bent Creek Estates, Phase I, at a distance of 614.18 feet, and continuing along the North line of said Baudouin tract and the South line of said Block A, for a total distance of 1479.67 feet to a 5/8 inch iron rod with cap stamped "TNP" set for corner in the West line of said F.M. Highway No. 1830, said point also being the Northeast corner of said Baudouin tract; THENCE South 00°50'Ol" East along the West line of said F.M. Highway No. 1830, for a distance of 818.39 feet to the POINT OF BEGINNING, and containing 22.38 acres of land, more or less. TRA_CT TWO BEING a 27.86 acre tract of land situated in the B.B.B. & C. R.R. Co. Survey, Abstract No. 196 and the W. Roark Survey, Abstract No. 1087, City of Denton, Denton County, Texas, and being known as that tract of land described in a Deed to Paul-Emile Baudouin and Benjamin Parker Baudouin, as recorded in Document No. 2011-35970 of the Real Property Records of Denton County, Texas, and being more particularly described as follows: BEGINNING at a 1/2 inch square pipe found for corner in the Westerly line of the G.C. & S.F. Railroad (a variable width right-of-way), said point being the Southeast corner of the above cited Baudouin tract and the Northeast corner of a called 37.87 acre tract of land described in a Deed to Connie M. Altemus, as recorded in Volume 901, Page 777 of the Deed Records of Denton County, Texas; THENCE North 89°45'23" West along the South line of said Baudouin tract and the North line of said Altemus tract, for a distance of 1533.46 feet to a 1/2 inch square pipe found for corner at the occupied Southwest corner of said Baudouin tract and the Northwest corner of said Altemus tract, said point also being in the East lioe of a called 222.275 acre tract of land described as the First Tract in a Deed to Burch Family Farm, Ltd., as recorded in Document No. 2007-110043 of the Real Property Records of Denton County, Texas; THENCE North 00°44'19" West along the West line of said Baudouin tract and the East line of said Burch Family Farm tract, for a distance of 67.50 feet to a point for corner in Hickory Creek; THENCE in a Northwesterly direction along the Westerly line of said Baudouin tract, the Easterly lioe of said Burch Family Farm tract and the meanders of Hickory Creek as follows: North 52°OS'S5" West for a distance of 282.19 feet to a point for corner; North 27°24'15" West for a distance of 171.69 feet to a point for corner; North 31°16'21" West for a distance of 242.77 feet to a point for corner; North 19°13'S1" West for a distance of 206.12 feet to a point for corner in the South line of a called 21.472 acre tract of land described in a Deed to the City of Denton, Texas, as recorded in Document No. 1997-55783 of the Real Property Records of Denton County, Texas, said point also being the Northwest corner of said Baudouin tract; THENCE North 89°53'48" East departing said Hickory Creek, and along the North line of said Baudouin tract and the South line of said City of Denton tract, passing a 5/8 inch iron rod with cap stamped "TNP" set for reference at a distance of 48.00 feet, and continuing along the North line of said Baudouin tract and the South line of said City of Denton tract, for a total distance of 1429.30 feet to a 1/2 inch iron rod found for corner at the occupied Northeast corner of said Baudouin tract, said point also being in the Westerly line of said Railroad; THENCE South 35°19'02" East along the Easterly line of said Baudouin tract and the Westerly line of said Railroad, for a distance of 338.09 feet to a 1/2 inch iron rod found for corner at an angle point; THENCE South 42°26'S9" East continuing along the Easterly line of said Baudouin tract and the Westerly line of said Railroad, for a distance of 201.49 feet to a 5/8 inch iron rod with cap stamped "TNP" set for corner at an angle point; TAENCE South 35°19'02" East continuing along the Easterly line of said Baudouin tract and the Westerly line of said Railroad, for a distance of 465.63 feet to the POINT OF BEGINNING, and containing 27.86 acres of land, more or less. 1 ' !1 !, '�' � .� � . ,, ,, � . , �; � , ► 1i : File Na.: 14-176283-DU Policy No.: TXTlll71427 EXCEPTIONS FROM COVERAGE This policy does not insure against loss ar damage (and the Campany will nat pay costs, attorneys' fees or expenses} that arise by reason af the terms and conditians of the leases and easements, if any, shown in Schedule A, and the following matters: 1. The follawing restrictive covenants of record itemized below (the Company must either insert specific recording data or delete this exception}: Item No. 1, Schedule B, has been deieted in rts entirety. 2. Any discrepancies, conflicts, or shartages in area or boundary ]ines, or any encroachments or protrusians, or any overlapping of improvements. Homestead or community property or survivorship rights, if any, af any spouse of any Insured. 4. Any titles or rights asserted by anyone, including but nat limited to, persons, the public, carparations, governments or other entities, (a) to tidelands, ar lands camprising the shores or beds of navigable ar perennial rivers and streams, lakes, bays, gulfs or aceans, ar (b) to lands beyand the line af the harbor or bulkhead lines as established or changed by any gavernment, or (c) to filled-in lands, ar artificial islands, or (d} to statutory water rights, including riparian rights, or (e) to the area extending from the line of inean low tide ta the line of vegetatian, or the right of access ta that area ar easement along and across that area. 5. Standby fees, taxes and assessments by any taxing authority far the year 2014, and subsequent years; and subsequent taxes and assessments by any taxing authority for prior years due to change in land usage or ownership, but not those taxes or assessments for priar years because of an exemption granted to a previous awner of the property under Section 11.13, Texas Tax Code, ar because of improvements nat assessed for a previous tax year. 6. The follawing matters and all terms of the documents creating or offering evidence of the matters (The Company must insert matters ar delete this exceptian).: (a) All leases, grants, exceptions or reservations of coal, lignrte, 0►1, gas and other minerals, tagether wjth all rights, privileges and immunities relating thereto, appearing in the Public Recards whether listed in Schedule B or nat. There may be leases, grants, exceptions or reservatians af mineral interest that are not listed. (b} Rfghts of parties fn passession. Form T-1: Owner's Policy of Title Insurance Rev (1/3/2014) Page 4 � . #, - y�.' ' �., (c) Rights of tenants, as tenants only, under unrecorded leases or rental agreements. Policy No. TXT11171427 (d) Easement created in instrument recorded in Volume 289, Page 171, Real Property Records, Denton County, Texas, and as shown per survey by Todd B. Turner, R.P.L.S. No. 4859, dated April 18, 2014.--Affects Tract Two (e) Oil, Gas and Mineral Lease recorded in Volume 378, Page 223, Real Property Records, Denton County, Texas. The Company makes no representation as to the present ownership of this interest. (� Oil, Gas and Mineral Lease executed by Sidney Baudouin to NationsGas Partners, dated July 6, 2001, filed August 14, 2001, recorded in Volume 4900, Page 3096, Real Property Records, Denton County, Texas. The Company makes no representation as to the present ownership of this interest. As affected by Amendment filed August 28, 2001, in Volume 4910, Page 2721 and filed November 5, 2001, recorded in Volume 4958, Page 3713, Real Property Records, Denton County, Texas. (g) Mineral Deed executed by Sidney Baudouin, Individually and as Co-Executor of the Estate of Bobbie M. Simms, deceased, and Paul P. Simms, as Co-Executor of the Estate of Bobbie M. Simms, deceased to Connie M. Altemus, dated July 6, 2001, filed September 7, 2001, recorded in Volume 4917, Page 3893, Real Property Records, Denton County, Texas. The Company makes no representation as to the present ownership of this interest. (h) Terms and provisions of Right-of-Way Agreement from Sidney Baudouin to Crosstex CCNG Transmission Ltd. dated January 18, 2003, filed April 8, 2003, recorded in Volume 5307, Page 4484, Real Property Records, Denton County, Texas, and as shown per survey by Todd B. Turner, R.P.L.S. No. 4859, dated April 18, 2014.- -Affects Tract One (i) Terms and provisions of Right-of-Way Agreement from Sidney Baudouin to Crosstex CCNG Transmission Ltd. dated January 18, 2003, filed Apri18, 2003, recorded in Volume 5307, Page 4487, Real Property Records, Denton County, Texas, and as shown per survey by Todd B. Turner, R.P.L.S. No. 4859, dated April 18, 2014.- -Affects Tract One (j) Oil, Gas and Mineral Lease executed by Benjamin Parker Baudouin to Eagleridge Energy, LLC, dated April 10, 2012, filed May 7, 2012, recorded in CC#2012-47486, Real Property Records, Denton County, Texas. The Company makes no representation as to the present ownership of this interest. (k) Oil, Gas and Mineral Lease executed by Paul-Emile Baudouin to Eagleridge Energy, LLC, dated April 11, 2012, filed May 1, 2012, recorded in CC#2012-45176, Real Property Records, Denton County, Texas. The Company makes no representation as to the present ownership of this interest. (l) Easement created in instrument to Southwestern Gas Pipeline, Inc., recorded in Volume 568, Page 308, Real Property Records, Denton County, Texas, and as shown per survey by Todd B. Turner, R.P.L.S. No. 4859, dated April 18, 2014. Countersigned Capital Title of Texas, LLC - Denton Urbina : Authorized Signatory Form T-1: Owner's Policy of Title Insurance Rev(1/3/2014) Page 5 GF No. 14-176283-DU I ' , � . � . � � . ' Owner's Policy No.: TXT11171427 Premium Amount Rate Rules Prc�perty County Liability Policy Date Type Code 1 2 3 4 5 6 7 8 $3,741.25 1000 121 $475,000.00 07/15/2014 0895 0500 0803 ENDORSEMENT Attached to Policy No. TXT11171427 Issued by FIRST NATIONAL TITLE INSURANCE COMPANY The Company insures against loss or damage sustained by the Insured by reason of: 1. The existence, at Date of Policy, of any of the following unless expressly excepted in Schedule B: a. Present violations on the Land of any enforceable covenants, conditions, or restrictions, or any existing improvements on the Land that violate any building setback lines shown on a plat of subdivision recorded or filed in the Public Records. b. Any instrument referred to in Schedule B as containing covenants, conditions, or restrictions on the Land that, in addition, (i) establishes an easement on the Land, (ii) provides for an option to purchase, a right of first refusal, or the prior approval of a future purchaser or occupant, or (iii) provides a right of reentry, possibility of reverter, or right of forfeiture because of violations on the Land of any enforceable covenants, conditions, or restrictions. c. Any encroachment of existing improvements located on the Land onto adjoining land or any encroachment onto the Land of existing improvements located on adjoining land. d. Any encroachment of existing improvements located on the Land onto that portion of the Land subject to any easement excepted in Schedule B. e. Any notices of violation of covenants, conditions, or restrictions relating to environmental protection recorded or filed in the Public Records. 2. Damage to existing buildings that are located on or encroach upon that portion of the Land subject to any easement excepted in Schedule B, which damage results from the exercise of the right to maintain the easement for the purpose for which it was granted or reserved. 3. Damage to improvements (excluding lawns, shrubbery, or trees) located on the Land on or after Date of Policy resulting from the future exercise of any right existing at Date of Policy to use the surFace of the Land for the extraction or development of minerals excepted from the description of the Land or excepted in Schedule B. 4. Any final court order or judgment requiring the removal from any land adjoining the Land of any encroachment, other than fences, landscaping, or driveways, excepted in Schedule B. 5. Any final court order or judgment denying the right to maintain any existing building on the Land because of any violation of covenants, conditions, or restrictions or building setback lines shown on a plat of subdivision recorded or filed in the Public Records. Form T-19.1: Restrictions, Encroachments, Minerals Endorsement - Owner Policy Wherever in this endorsement the words "covenants, conditions, or restrictions" appear, they do not include the terms, covenants, conditions, or limitations contained in an instrument creating a lease. As used in paragraphs 1.a. and 5, the words "covenants, conditions, or restrictions" do not include any covenants, conditions, or restrictions (a) relating to obligations of any type to perform maintenance, repair, or remediation on the Land, or (b) pertaining to environmental protection of any kind or nature, including hazardous or toxic matters, conditions, or substances, except to the extent that a notice of a violation or alleged violation affecting the Land has been recorded or filed in the Public Records at Date of Policy and is not excepted in Schedule B. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of #he policy and of any prior endorsements. FIRST NATIONAL TITLE INSURANCE COMPANY A ��. �"J 1� Authorized Signatory Form T-19.1: Restrictions, Encroachments, Minerals Endorsement - Owner Policy Minerals and Surface Damage Endorsement (T-19.3) Attached to Policy No. TXT11171427; Applies to Parcel(s) NA Issued by: FIRST NATIONAL TITLE INSURANCE COMPANY Herein called the Company The Company insures the insured against loss which the insured shall sustain by reason of damage to permanent buildings located on the Land on or after Date of Policy resulting from the future exercise of any right existing at Date of Policy to use the surface of the Land for the extraction or development of coal, lignite, oil, gas or other minerals excepted or excluded on Schedule A, Item 2 or excepted in Schedule B. This endorsement does not insure against loss resulting from subsidence. This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements. FIRST NATIONAL TITLE INSURANCE COMPANY .� .�� � � .. Authorized Signatory Form T-19.3: Minerals and Surface Damage Endorsement ,��� �,��rt�� � � ���� II�I �I III June 19, 2015 Capital Title of Texas, LLC - Denton Urbina 620 West Hickory Denton, TX 76201 Phone 940-565-1919 Fax 940-565-1917 OWNER POLICY OF TITLE INSURANCE TRANSMITTAL City of Denton, Texas, 901-A Texas Street Denton, TX 76207 Attn: LuAnne Oldham a Home Rule Municipal Corporation RE: Order No.: 14-176283-DU Buyer/Borrower(s): City of Denton, Texas, a Home Rule Municipal Corporation Sellers(s): Paul-Emile Baudouin and Benjamin Parker Baudouin Property Address: Approx 50.33 acres in the BBB & CRR Survey, A-196 -- preliminary legal in scanfile, , TX In connection with the above transaction, we enclose your T-3 correction endorsement to Owner Policy of Title Insurance. Your deed has been filed for record in the County Clerk's Office and it will be mailed directly to you from that office. It has been a pleasure to serve you. If we may assist you in the future, please let us know. Ashlea Flores Order No. 14-176283-DU OTP Transmittal Page 1 of 1 Rev. 01/06 For T-3 eneral Endorse ent . , � , ., � .. • , � � Attached to and made a part of First National Title Insurance Company Policy or Interim Construction Binder Number TXT11171427, this 19TH DAY OP 7TJNE, 2015. I R � � � � : " � � '• �'� I� �� l � I���� ' .� ����� � I 1 � � � #��� ' � !'�� • • ' ' ` ' '' � ` • Nothing herein contained shall be construed as extending ar changing the effective date of the afaresaid policy or interim construction binder, unless otherwise expressly stated. TN WIT'NESS HE OF, the FIRST NATIONAL TITLE INSiJRANCE COMPANY has caused this Endorsement to be executed by its President under the seal of the Company, but this Endorsement is to be valid anly when it bears an autharized countersignature. • • � p• . . , . � � � , � �� � .: � � �� � , � ; '�� ; :l,' t� . � �;, h , . ..n I. Form T-3: General Endorsement